Microsoft and Visa fuel rebound on Wall Street

Published by
Reuters

By Bansari Mayur Kamdar and Noel Randewich (Reuters) – Wall Street bounced back on Wednesday following a steep drop the day before, with strong revenue forecasts from Microsoft and Visa boosting investors who have been about fretting about slowing global growth and rising interest rates. Microsoft Corp rallied 5.8% after the software heavyweight late on Tuesday gave a strong revenue forecast, while payments network Visa Inc jumped 8.2% after it predicted revenue above pre-pandemic levels. Tuesday’s rally followed a steep selloff the day before that saw the Nasdaq drop to its lowest close since…

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