Stock Markets Shrug Off Stimulus Worries as SunPower Shines, Fastly Rises Faster
The stock market rally since March has been impressive, but it hasn't gone straight up. Repeatedly, stocks get hit for brief periods only to bounce back toward new heights. That happened on Wednesday, as market participants decided not to worry about President Trump's having called off discussions about further economic stimulus measures. Just before 11:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 430 points to 28,203. The S&P 500 (SNPINDEX: ^GSPC) picked up 43 points to 3,404, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved higher by 150 points to 11,305.
Stocks related to cloud computing have done extremely well, and positive sentiment was a big driver for Fastly (NYSE: FSLY) and its stock. First, though, SunPower (NASDAQ: SPWR) managed to produce a nice gain as analysts watching the solar technology company had good things to say about its future.
Shares of SunPower were higher by almost 16% Wednesday morning. The move came after another set of Wall Street analysts took a closer look at the solar module maker and liked what they saw.
Source Fool.com
