Stock Market Today: Big Tech Carries Wall Street on Its Back
by Kyle Woodley
Apr 28, 2022
2 minutes
Technology and tech-esque stocks were the vanguard for a wild (and broad) stock-market rally Thursday that largely ignored an unexpected contraction in U.S. economic activity.
This morning, the Commerce Department reported that U.S. gross domestic product declined at a 1.4% annualized pace during the first quarter of 2022, falling far shy of the 1% gain that economists, on average, expected. However, several experts noted that it wasn't all bad news; a 2.7% rise in consumer spending and other metrics made the report more noise than omen.
"Huge miss on GDP
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