NEW YORK (Reuters) – U.S. stocks rebounded for a second day on Wednesday as investors snapped up beaten-down technology and internet favourites and strong company results lifted spirits, even as the S&P 500 closed out its worst month in seven years.
The S&P 500 lost 6.9 percent in October, while the Nasdaq shed 9.2 percent, its biggest monthly loss since November 2008.
New York Markets were generally relieved that October was over
Fears of rising borrowing costs, global trade disputes and a possible slowdown in U.S. corporate profits spooked equity investors this month, with technology and internet names that had powered the market’s rally taking the biggest hit.
“People are just happy to have the month of October over,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
“All of the fears that popped up last week are being pushed into the background right now. I don’t know…
View original post 372 more words