Stocks close at record highs, boosted by tech companies, optimism about economic data

From CNBC: 2024-06-17 16:37:00

The S&P 500 hit a new record close on Monday, with the index rising 0.77% to end at 5,473.23. The Nasdaq Composite also surged 0.95%, while the Dow Jones Industrial Average added 188.94 points to snap a four-day losing streak. Megacap technology stocks like Microsoft and Apple boosted the rally, with the information technology sector climbing 1.2%. Nvidia reached a new all-time high, while Broadcom shares added 5.4% to hit new highs. Investors are optimistic about strong economic data and the potential start of rate cuts. Retail sales data for May is set to be released on Tuesday.



Read more at CNBC: Stock market news for June 17, 2024