“Almost every major technology stock rose in early trading Wednesday as the sector benefited from a broad market advance spurred on by new plans by the U.S. Federal Reserve and other central banks to shore up confidence in the financial sector,” Rex Crum reports for MarketWatch.
“The Fed said that it, and the other banks, would inject cash into the markets by auctioning off short-term funds. The first such auction is set for Dec. 17. See full story on the central banks’ actions,” Crum reports.
“With the central banks’ actions leading the way, the tech sector flexed its muscles in early trading,” Crum reports.
The tech-heavy Nasdaq Composite Index rose ($COMPQ: $2,702.73, +$50.38, +1.9%) with Apple Inc. up (AAPL: $193.76, +$5.22, +2.8%).
Full article here.