Shares of technology companies rose sharply as traders jumped back into bets that the Federal Reserve would boost rates by a more modest increment in December.
Dell Technologies shares rallied after the computer-services giant's quarterly revenue fell by a relatively modest amount, despite a 17% plunge in sales at its personal-computer unit.
HP shares were modestly higher ahead of its earnings report. Microsoft has overtaken Amazon.com as the stock with the most long hedge fund positions, according to a survey from analysts at brokerage Goldman Sachs Group.
Facebook parent Meta fell out of the top five for the first time since 2014, the Goldman analysts said.
Chinese e-commerce firm JD.com warned it would cut executive pay to reflect straitened economic conditions.
The U.K.'s competition regulator is deepening its investigation into Apple and Alphabet's Google control over some mobile-device software, the latest antitrust.
Demand for security software "has not fallen off a cliff," but revenue growth for security specialists is likely to soften in 2023, said analysts at brokerage Morgan Stanley, in a note to clients.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-22-22 1706ET
