Tech stocks extend Wall Street rally on stimulus hopes

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(Reuters) – Wall Street’s main indexes rose for a fourth straight session on Monday, helped by a tech boost and on optimism that Washington would reach a deal over more fiscal support, with investors also gearing up for the third-quarter corporate earnings season.

Apple Inc was a major support for the three main stock indexes with a 3.6% gain ahead of a special event on Tuesday, which most analysts believe will be used to unveil the new iPhone with 5G capabilities.

Amazon.com Inc climbed 3.5% ahead of its annual Prime Day shopping event on Oct. 13 and 14.

The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill as negotiations on a broader package ran into resistance.

“The widening lead for the Democrats lessens the likelihood of

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Malaysia Stock Market Tipped To Extend Winning Streak

(RTTNews) – The Malaysia stock market has finished higher in two straight sessions, gathering more than a dozen points or 0.8 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,510-point plateau and it’s looking at another green light again on Monday.

The global forecast for the Asian markets is upbeat, with technology stocks expected to lead the markets higher amidst bargain hunting. The European markets were mixed and the U.S. bourses were sharply higher and the Asian markets figure to follow the latter lead.

The KLCI finished modestly higher on Friday as more huge gains from the rubber glove makers were capped by weakness from the plantations and telecoms, while the financials were mixed.

For the day, the index gained 8.34 points or 0.56 percent to finish at 1,509.14 after trading between 1,505.05 and 1,516.00. Volume was 5.172 billion shares worth 3.959 billion ringgit.

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