Wall Street staged a rebound rally on Tuesday following a technology share driven market drop in the previous session. The Dow Jones Industrial Average rose over 300 points, while both the S&P 500 and Nasdaq added over 1%.
Big tech stocks ended the session in the green, with Netflix
Here's how the market settled on Tuesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Best Buy rolls out Totaltech annual membership program nationwide:
Customers who join will receive unlimited 24/7 tech support, exclusive member prices on merchandise, up to 2 year of product protection insurance for most purchases, free shipping and product installation, an extended 60-day period for returns and exchanges, and access to hard-to-find items during the holiday season.
While Best Buy did not specify the high-demand products available to Totaltech members, the electronics retailer said member will obtain access to Member Monday--a special event of exclusive deals from Oct. 18 through the holiday season.
U.S. service sector expands at faster-than-expected rate in September:
Activity in the U.S. services sector expanded at a faster-than-expected rate in September, uplifted by growth in new orders last month and stabilizing labor market conditions.
The Institute for Supply Management's September Services Index came in at 61.9, rising from 61.7 in August and coming above consensus estimates for a reading of 59.9. Readings above the neutral level of 50.0 indicate expansion in a sector.
"The slight uptick in the rate of expansion in the month of September continued the current period of strong growth for the services sector," Anthony Nieves, chair of the Institute for Supply Management Services Business Survey Committee, said in a press statement. "However, Ongoing challenges with labor resources, logistics, and materials are affecting the continuity of supply."
Facebook apologizes and explains Monday's service outage:
"To all the people and businesses around the world who depend on us, we are sorry for the inconvenience caused by today's outage across our platforms," said Santosh Janardhan, vice president of infrastructure at Facebook, in a blogpost late Monday.
"Our engineering teams have learned that configuration changes on the backbone routers that coordinate network traffic between our data centers caused issues that interrupted this communication. This disruption to network traffic had a cascading effect on the way our data centers communicate, bringing our services to a halt," Janardhan explained. "Our services are now back online and we're actively working to fully return them to regular operations."
Here's how market benchmarks started trading soon after open:
S&P 500 Index: +0.45% or +19.51 points to 4,319.97
Dow Jones Industrial Average: +0.40% or +135.38 points to 34,138.30
Nasdaq Composite Index: +0.57% or +81.11 points to 14,341.92