Wall Street snaps 2-day slump amid rally in tech shares, oil prices
US stocks ended higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns about the latest US-China tensions and downbeat sentiment from the annual meeting of Warren Buffett’s Berkshire Hathaway.
Major US indexes opened lower but moved higher throughout the afternoon to snap two-day losing streaks.
Stocks have rebounded sharply since late March from the coronavirus-fueled sell-off, helped by massive monetary and fiscal stimulus. Investors are now watching efforts by a number of states trying to spark their economies by easing restrictions put in place to fight the outbreak.
