Dow Hits Record High as Tech Stocks Rebound
The US stock market saw a surge on Monday as tech stocks rebounded from recent weakness. The Dow Jones Industrial Average set a new closing high, while the S&P 500 and Nasdaq Composite also rose.
The Dow-30 improved by 693.38 points (1.3%) to a 53,178.41 close, beating its previous record of 53,055.91 set on July 6. The S&P 500 Index added 110.78 ticks (1.5%) to 7,600.50, just shy of the 7,609.78 record finish that it set on June 2.
The Nasdaq Composite Index gained 540.04 points (2.1%) to 25,913.90, although it remains more than 1,000 points below its best-ever close of 27,093.90 seen on June 2.
Big Techs such as Amazon, Microsoft, Alphabet-A, and Meta Platforms rallied between 4.6% and 6%, leading the tech-heavy index to rise for three straight sessions.