Trump's Speech Lifted These Tech Stocks on Friday
Many tech stocks jumped significantly higher just before the closing bell on Friday. Graphics chip designer NVIDIA (NASDAQ: NVDA) closed 11.4% higher, communications-chip designer Qualcomm (NASDAQ: QCOM) ended the day at a 13.1% gain, and wireless network operator T-Mobile US (NASDAQ: TMUS) posted a gain of 11.2%. Audio-chip specialist Cirrus Logic (NASDAQ: CRUS) saw an even sharper jump to 15.9% and barcode scanner company Zebra Technologies (NASDAQ: ZBRA) stopped at 13.9%.
Image source: Getty Images.
All of these dramatic jumps were triggered by the same event. Just before the closing bell, President Donald Trump gave a speech outlining a more active response to the coronavirus outbreak, making it easier for Americans to get tested and get medical help if necessary. Every market tracker started the news conference on a low note, falling in unison as Trump delivered his opening lines. The tenor changed in a hurry as medical professionals and business leaders stepped up to explain a new approach to coronavirus testing in America.
Source Fool.com
