Wall Street set to open higher as tech stocks gain

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Stocks staged a broad rally ahead of the three-day Easter weekend as technology shares rebounded, but the blue-chip Dow index still suffered its first quarterly loss in more than two years.

The S&P 500 increased 35.87 points, or 1.38 percent, to 2,640.87. The Nasdaq added 3 points to 6,952.

The S&P 500 index slipped 7.62 points, or 0.3% to 2,605, with six of its 11 main sectors ending in negative territory.

USA stocks ended the week with gains but posted losses for the month.

USA equity markets closed lower on Wednesday, as continued weakness in the technology sector weighed on the main indexes. The S&P 500 was up 28.83 points, or 1.11 percent and the Nasdaq Composite rose 84.60 points, or 1.22 percent.

Advancing issues outnumbered declining ones on the NYSE by a 3.66-to-1 ratio; on Nasdaq, a 2.23-to-1 ratio favored advancers.

GameStop shares dropped 9.3 percent after the company provided disappointing full-year sales forecast.

"People are anxious about rising interest rates".

The year started strong, but early gains evaporated as the markets entered a correction over interest rate jitters, fears of an escalating import tariff dispute between the United States and China, and a selloff in the tech sector.

The major indexes were headed higher from the start of trading Thursday as investors sized up several company earnings reports and new government data showing that spending by US consumers rose 0.2 percent in February, while their incomes increased 4.4 percent.

Technology stocks, which were big decliners earlier in the week, powered much of the market's climb Thursday.

Wall Street's main indexes were set to open higher on Thursday as beaten-down technology stocks posted slim gains in a roller-coaster week for Wall Street.

The group is up 14 percent so far this year, but privacy concerns in the wake of Facebook's scandal almost two weeks back has wiped $400 billion off their value. The watchmaker's stock jumped $5.20, or 15.7 percent, to $38.40.