Tech Stocks Rally Ahead of Key Jobs Report; Verizon Offers Streaming Bundle Deal
• Tech stocks led major averages higher as investors looked to jobs data for interest rate signposts. Dow lagged while S&P 500 popped 0.8% and Nasdaq rose 1.3%.
• Latest jobless claims stayed flat at 220,000. Number suggests limited layoff increases, but Friday's monthly jobs report is key for Fed policy.
• Alphabet shares surged nearly 6% on new AI initiatives. Broader tech rally drove stocks higher.
• Fundstrat's Tom Lee sees S&P 500 hitting 5,200 in 2024 as inflation falls further and economy avoids recession.
• Verizon announced $10 bundle deal for ad-supported Netflix and HBO Max plans, yielding over 40% savings in streaming wars.