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Tech rebound fuels record-breaking rally in South Korean stocks
['Afp News', 'Min Read']
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Shares of Amazon piled on more than 15 percent, lifting US indices (Kirill KUDRYAVTSEV)Wall Street stocks charged higher Friday behind strong earnings from Amazon that offset the drag from higher US Treasury yields.
Amazon's surge added to confidence about artificial intelligence investments amid questions about the payoff, a day after Microsoft also wowed investors with strong results.
Investors have been monitoring the bond market since a divided Fed kept interest rates unchanged on Wednesday.
The three dissenting policy makers from Wednesday's Fed meeting said Friday that rate hikes were needed immediately to avoid entrenched inflation.
"The longer that high inflation persists, the more challenging and costly it can be to bring it back down."