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Tech Up as Investors Buy Momentum Stocks on the Dip -- Tech Roundup

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01/23/2020 | 05:21pm EST

The technology sector rose as investors swooped to buy during a selloff related to the coronavirus scare.

Shares of high-momentum companies such as Tesla added to recent gains.

"It's also pretty clear right now that the mentality of market participants is to buy on the dip, and so that tends to be positive for stocks," said Oliver Pursche, chief market strategist at broker-dealer Bruderman Brothers.

Intel shares rose after-hours as demand from personal-computer makers and data centers boosted the chip maker's earnings. Xerox Holdings said it plans to nominate 11 independent candidates to replace HP's board at the computer and printer maker's annual shareholder meeting this summer.

Write to Rob Curran at rob.curran@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 0.66% 66.5738 Delayed Quote.10.51%
TESLA, INC. 6.10% 914.58 Delayed Quote.91.24%
XEROX HOLDINGS CORPORATION 0.16% 37.24 Delayed Quote.0.95%
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