Nasdaq rebounds as vaccine news raises hopes, focus returns to tech stocks

Wall Street's main indexes advanced on Wednesday as signs of a working Covid-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week.
 

The tech-skewed Nasdaq advanced 1.5%, while technology mega-caps including Netflix Inc, Amazon.com Inc and Facebook Inc, the so-called stay-at-home winners, also gained between 1% and 2%.
 

The tech index climbed 1.6%, the most among major S&P sectors, followed by the consumer discretionary index.
 

Encouraging data from a late-stage vaccine earlier this week prompted a rotation away from technology names, and lifted demand for stocks sensitive to economic growth, as