S&P 500 in Rally Mode as Energy, Tech Shine – Investing.com India

Investing.com — The S&P 500 rallied Tuesday, powered by an ExxonMobil-led climb in energy and jump in growth stocks despite a fresh climb in Treasury yields on expectations for aggressive Federal Reserve tightening ahead.

Energy climbed more than 4%, supported by a 6% spike in Exxon Mobil (NYSE: XOM ) after Credit Suisse upgraded its rating to stock outperform from buy amid expectations the oil major’s differentiated growth strategy will drive “excellent” returns.

Tesla (NASDAQ: TSLA ), meanwhile, drove the gains for consumer stocks, rising more than 12% after chief executive Elon Musk detailed to lay off about 10% of the electric vehicle maker’s salaried staff

Tech found its footing following a selloff last week as investors snapped up beaten down big tech names including Apple (NASDAQ: AAPL ) and Alphabet.

Alphabet Inc Class A (NASDAQ: GOOGL ) jumped more than 4% as the search-engine is reportedly in talks with Netflix (NASDAQ: NFLX ) about a potential advertising…

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source: https://news.oneseocompany.com/2022/06/21/sp-500-in-rally-mode-as-energy-tech-shine-investingcom-india_2022062122164.html

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