(Bloomberg) — A rally in the world’s largest technology companies drove stocks higher, with the market rebounding from its worst session in a month. A rout in Treasuries paused as traders waded through remarks from Federal Reserve officials.
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The tech-heavy Nasdaq 100 rose 1.1%, with Nvidia Corp. extending a five-day rally to 13%. Apple Inc. climbed 1.5%. US-listed Chinese stocks tumbled as Beijing stopped short of launching more major stimulus, disappointing traders looking for more fuel for a world-beating stock rally. Treasuries saw small moves following a recent selloff, with shorter maturities outperforming.
Fed Governor Adriana Kugler said the US central bank should keep its focus on bringing inflation back to its 2% target, though with a “balanced approach” that avoids an “undesirable” slowdown in employment growth and economic expansion. Officials lowered their benchmark rate by a half point…
