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Tech earnings propel S&P 500 towards year-end predictions

New York

STOCKS fell so far and so fast in August that at its depth, the Standard & Poor's 500 Index was 15 per cent away from the average year-end prediction of Wall Street strategists.

Now it's 5 per cent - and the gap is set to narrow further after four stocks that already account for one-tenth of the recovery in the last two months surged following earnings reports.

As much as US$100 billion in market value could be added to Microsoft Corp, Google parent Alphabet Inc and Amazon.com alone based on...

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