Growth stocks outperformed value shares in an apparent shift back to the safety trade that has powered this year’s gains. Shares of technology companies rebounded – after being hit hard earlier this week – as investors bet that the US economic recovery will be slow due to the virus resurgence.
Shares of Apple (+3%), Amazon (+3.4%), Facebook (+1.5%), Microsoft (+2.6%) and Netflix (+2.2%) all lifted alongside Alphabet (+0.6%) and Zoom Video Communications (+9.9%). Ride- hailing app Lyft’s shares were up 1% on plans to enter the food – delivery market. The Dow Jones index closed lower by 23 points or 0.1%. But the S&P500 index was 0.8% higher. And the Nasdaq index gained 232 points or 2%.
