US stocks, including Nasdaq and S&P 500, hit record highs fueled by tech sector gains.

From Network18 Media and Investments Ltd.: 2024-06-17 22:17:04

Stocks in the US surged to record levels on Monday, with the S&P 500 climbing 0.8% to a new peak of 5,473.23, the Nasdaq Composite increasing 1% to 17,857.02, and the Dow Jones Industrial Average gaining 0.5% to 38,778.10. Tech companies led the charge, with Autodesk rising 6.5%, Broadcom up nearly 5.5%, Micron Technology climbing more than 4.5%, and Apple and Microsoft rebounding. However, Nvidia fell over 0.5% and GameStop shares dropped 12.1%. Bond market dynamics saw the 10-year Treasury note’s yield rise to 4.28%. Economic reports for the week include consumer spending data and a preliminary assessment of US business activity. Manufacturing in New York state continued to contract, though less severely than expected, impacted by the Federal Reserve’s interest rate policies aimed at managing economic growth and inflation.



Read more at Network18 Media and Investments Ltd.: Another record closing for Nasdaq, S&P 500 a tech shares zoom – Firstpost