MARKET OPEN: Wall Street tech rally to spur enthusiasm

Fri, 21 Aug 2020

The domestic market is set to shrug off recent weakness as another tech-driven rally on Wall Street spurs enthusiasm and local earnings remain in focus. US markets were initially lower after the Labor Department said initial claims for state unemployment benefits rose to a seasonally adjusted 1.106 million for the week ended Aug. 15. Economists polled by Dow Jones Newswires expected a total of 923,000. But investors shrugged off weak US jobs data and focused on companies such as Apple, Facebook and Microsoft, all companies that have bene...

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