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Saturday, Jan 28, 2023
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Midday Stock Roundup

Indexes rebounded today after a three-session selloff, led by technology stocks.

The S&P 500 jumped 2.4% to 3,410.34.

The Dow Jones Industrial Average increased 2.4 % to 28,172.34 and the Nasdaq was up 3% to 11,167.19.

The price of gold rose 0.6% to $1,955.

The price of oil increased 3.9% to $38.20 a barrel.

The yield on a 10-year bond climbed 2.3% to 0.7%

TECHNOLOGY

Chipmaker Skyworks Solutions Inc. of Irvine (Nasdaq: SWKS) climbed 5.6% to $138.12 and a $23 billion market cap. The company yesterday afternoon made a presentation at the Citi 2020 Global Technology Conference. The rise broke a decline in four straight trading sessions following a report that Skyworks’ largest customer, Apple Inc., may manufacture more chips in-house.

MEDICAL DEVICES

Shares of Edwards Lifesciences Corp. (NYSE: EW) rose 3.9% to $85.39 and a $53 billion market cap, the largest in Orange County. The share price of the Irvine-based maker of heart valves is near its 52-week high of $87.79 reached Sept. 2.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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