Wall Street on course for recovery – tech stocks are in demand

Frankfurt Wall Street’s slide has come to an end after five days. In the afternoon, however, the leading indices Dow Jones and S&P 500 each turned 0.6 percent into the red and, at 29,071.87 and 3634.26 points respectively, were as low as they were almost two years ago.

In the near term, the US stock market may have bottomed out, said Jason Pride, chief investor at wealth manager Glenmede. “However, this could be a ‘bear market rally’ like the one we saw over the summer.”

Experts use this term to describe an interim recovery in a longer-term downward trend. The bear symbolizes falling prices on the stock exchange.

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