Shares of technology companies rose amid strong upward momentum as the tech industry group of the S&P 500 tested all-time highs.
The SPDR Select Sector Technology exchange-traded fund, which tracks the S&P 500 tech sector, is up 45% in the last 12 months and is within 3% of the all-time high recorded during the initial wave of artificial-intelligence speculation in July.
Cloud Software Group, which owns enterprise-software brand Citrix, is ceasing business transactions in China, became the latest U.S. company to pull back from China.
Lyft shares fell in late-trading after the ride-hailing concern’s third-quarter earnings surpassed Wall Street estimates, but left some investors’ unconvinced by the company’s strategy.
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