US STOCKS-Tech leads Wall St higher as virus fears rise


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    * U.S. coronavirus cases top 7 million
    * Costco Wholesale drops on high COVID-19 costs
    * Cruise operators jump after Barclays upgrade
    * Indexes up: Dow 0.40%, S&P 0.68%, Nasdaq 1.27%

 (Updates to early afternoon)
    By Devik Jain
    Sept 25 (Reuters) - Wall Street's main indexes rose on
Friday, led by technology-related stocks, but were still on
track for their longest weekly losing streak in a year as fears
about the coronavirus' impact on the economy dented investor
    Shares of tech mega-caps including Facebook Inc  FB.O ,
Alphabet Inc  GOOGL.O , Inc  AMZN.O , Apple Inc
 AAPL.O  and Netflix Inc  NFLX.O , which tend to outperform
during economic uncertainty, climbed between 0.5% and 2.3%.
    The information technology index  .SPLRCT  jumped another
1.4% as investors ditched value-linked stocks  .IVX  on signs of
a slowdown in the broader economic recovery.
    All the three major U.S. stock indexes were on course for
their fourth straight week of declines - their longest weekly
losing streak since August 2019.
    Volatility  .VIX  has also shot up as investors looked for
clarity on more Congressional stimulus ahead of the Nov. 3
presidential election.
    "You've had this nice recovery through the summer, and
coming into the fall, the economy is just a little bit more
vulnerable, particularly with a lot of the stimulus that we had
starting to taper off now," said Mike Dowdall, portfolio manager
at BMO Global Asset Management in Chicago.
    At 1:03 p.m. ET, the Dow Jones Industrial Average  .DJI  was
up 107.27 points, or 0.40%, at 26,922.71, the S&P 500  .SPX  was
up 22.08 points, or 0.68%, at 3,268.67, and the Nasdaq Composite
 .IXIC  was up 135.07 points, or 1.27%, at 10,807.34.
    The S&P industrials sector  .SPLRCI  added 0.9% as data
showed new orders for key U.S.-made capital goods jumped in
August, while a 1.1% slide in energy stocks  .SPNY  put them on
course for one of their worst weeks since the coronavirus-driven
crash in March.*:nL2N2GM0I8
    Royal Caribbean Cruises Ltd  RCL.N , Norwegian Cruise Line
 NCLH.N  and Carnival Corp  CCL.N  jumped more than 6% after a
report said Barclays upgraded their stock to "overweight".*:nL2N2GM0JY
    Boeing Co  BA.N  gained 4.3% after Europe's chief aviation
safety regulator said the planemaker's grounded 737 MAX could
receive regulatory approval to resume flying in November and
enter service by the end of the year.*:nL5N2GM1WU
    Costco Wholesale Corp  COST.O  fell 1.9% as the warehouse
chain recorded high coronavirus-related costs for the second
straight quarter.*:nL3N2GL3UZ
    Novavax Inc  NVAX.O  jumped 10.6% after the drugmaker
launched a late-stage trial of its experimental COVID-19 vaccine
in the UK.*:nL3N2GM2KJ
    Advancing issues outnumbered decliners 1.49-to-1 on the NYSE
and 2.31-to-1 on the Nasdaq.
    The S&P index recorded one new 52-week high and no new low,
while the Nasdaq recorded 15 new highs and 35 new lows.

 (Reporting by Devik Jain in Bengaluru; Editing by Arun Koyyur
and Anil D'Silva)
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