The Wall Street soared as Facebook Inc.’s stellar quarterly report bolstered tech stocks higher and a leap in oil prices lifted up the energy sector.
The social media company shares surged 15.5%, its largest one-day bounce since 2013, as digital advertising soared 52% in fourth quarter revenue. The S&P tech sector rose 1.48% as Alphabet advanced 4.28%. The S&P energy sector climbed 3.15% as oil prices increased almost 3%.
Earnings from Facebook and other companies, as well as oil prices rebound were the forces behind most of the day’s improved sentiment. But investors cautioned the accelerations could be short-lived.
The material has been provided by InstaForex Company – www.instaforex.com