Wall Street closes sharply higher as Big Tech roars back
Oct 5 - Wall Street ended sharply higher on Tuesday, as Microsoft and Apple spearheaded a strong rebound in growth stocks and investors awaited monthly payrolls data later this week that could influence the U.S. Federal Reserve's decision on when to scale back monetary stimulus.Apple, Microsoft, Amazon and Alphabet, Wall Street's most valuable companies, each rose more than 1% following a selloff in growth stocks the day before.Facebook Inc rebounded 2.1% a day after taking a beating when its a
Facebook's been one of the strongest FAANGs this year. Here's why it's just been downgraded.
The FAANG stocks haven't really had much in common this year, with performance ranging from a 58% surge in Google parent Alphabet $$, to a 2% drop in online retailing giant Amazon $$.Arete Research, an independent research service focusing on the tech sector, said it is time for a breather in the second-best performer of that group, Facebook , which has surged 32% this year. It downgraded Facebook to neutral from buy and left its price target at $381, or 6% above Friday's closing price.The issue