Afternoon Market Update (GS, WFC, AAPL, CSCO, INTC, GOOG, TTWO)
The US financial sector gained momentum after the upbeat August nonfarm payrolls data. Shares of Goldman Sachs Group Inc (NYSE: GS) rose about 3.45%, while Wells Fargo & Co (NYSE: WFC) moved up about 2.47%. The Financial Select Sector SPDR Fund (XLF) gained about 1.09%.
Gold futures dipped after the report on US jobs data fueled hopes of an economic recovery, pulling investors away from trading in the precious metal. The contract has reached its intraday low of $1,239.20 an ounce. Gold for December delivery moved down 0.8% to $1,243.60 an ounce on the Comex division of the New York Mercantile Exchange (NYMEX).
US tech stocks moved up along with the broader market driven by the better-than-expected August nonfarm jobs report. The shares leading the sector were Apple Inc (NASDAQ: AAPL), Cisco Systems Inc (NASDAQ: CSCO), Intel Corp (NASDAQ: INTC) and Google Inc (NASDAQ: GOOG). Shares of Take-Two Interactive Software Inc (NASDAQ: TTWO) jumped more than 9% after the company reported an unexpected FQ3 profit and lifted its projections for the fiscal year. The Nasdaq Composite Index was up by about 0.74%, while the Philadelphia Semiconductor Index gained about 0.74%.
Read more from Benzinga's Markets.
