'FAANG' Stocks Bounce Ahead Of The Open

By Tomi Kilgore Markets MarketWatch Pulse

The recent sharp selloff in the technology sector appears to be on hold, as the "FAANG" stocks are bouncing nicely ahead of Tuesday's open. Shares of Facebook Inc.'s rose 0.8% premarket, after shedding 4.1% the past two sessions; Apple Inc. climbed 1.1%, after tumbling 6.2% the previous two sessions; Amazon.com Inc. tacked on 0.9%, after losing 4.5% the past two sessions; Netflix Inc. rallied 1.8% after dropping 8.7% the past two sessions; and Google parent Alphabet Inc. advanced 0.7% after declining 4.2% the previous two sessions. The technology-heavy Nasdaq 100 started selling off on Friday, and extended losses on Monday, with many market watchers blaming profit taking amid concerns over high valuations and geopolitical uncertainty. The index had lost 3.0% the past two sessions, while the S&P 500 had eased just 0.2%. Nasdaq 100 futures were up about 0.3% in recent trade.

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