FAANG emerges as the latest group to lead the market, Jim Cramer says
CNBC’s Jim Cramer said the most dominant names in technology emerged as the latest stock group to lead the market higher in Wednesday’s session.
“These Big Tech stocks led us higher,” the “Mad Money” host said after the major averages staged a strong rally.
“This market’s been going through leadership groups like there’s no tomorrow.”
The Dow Jones Industrial Average accelerated 369 points, or 1.52%, to a 24,575.90 close, and the S&P 500 moved 1.67% to 2,971.61. The tech-heavy Nasdaq Composite bested both indexes, rising 2.08% to close at 9,375.78.
The market has cycled through surges in the consumer staples, health care, essential big-box retailers and semiconductors during different periods as the country battled through the coronavirus crisis.
Shares of Amazon and …continued .
[Source: CNBC News]