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Tech Stocks Save Wall Street From Another Down Day on Oil

August 3, 2023
in Trade Tube
Reading Time: 1 min read
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Stocks managed to eke out slight gains by session close after spending much of Tuesday in the red. A rally among tech giants helped to lift indexes into the green in the afternoon session. Among the best performers, Apple was up nearly 3% and Yahoo! jumped 2.5%. Twitter was also gaining on news it will gain a foothold in India after announcing its purchase of Bangalore-based ZipDial, a startup specializing in marketing to cellphone users. Oil prices plunged again as Iraq reported a record level of 4 million barrels of oil produced per day and as the International Monetary Fund cut its two-year forecast for global growth.

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