First weekly Wall Street rally marks win streak since summer
On Wall Street Friday Technology stocks led a broad rally, capping another strong week for the market, as investors welcomed solid profits from Apple and other companies. Since August posted its first back-to-back weekly gains and the S&P rose 500 2.5%. The tech-heavy Nasdaq composite climbed 2.9% and the Dow Jones Industrial average rose 2.6%. Lifting the Russell 2000 index by 2.3%, smaller company stocks also gained ground. During the summer than expected Apple’s latest quarterly results showed the iPhone maker made even fatter profits. Its shares rose 7.6% and technology stocks led a rally that had largely been beaten up a day earlier. Intel jumped 10.7% even though it said it saw “worsening economic conditions after delivering a much bigger profit than analysts forecasted”. After they also topped Wall Street’s profit expectations Gilead Sciences soared 12.9%, and T-Mobile US gained 7.4%. After new data showing the economy grew modestly in the third quarter and inflation ea...