Tech Stocks Rally as Dow Hits New Record

The Dow Jones Industrial Average set a new closing high on Monday, beating its previous record finish. The DJIA improved by 693.38 points (1.3%) to a 53,178.41 close.

The S&P 500 Index also rose, adding 110.78 ticks (1.5%) to 7,600.50. However, it fell short of its record finish set on June 2 by just eight points.

Tech stocks led the gains, with Meta Platforms, Microsoft, Alphabet, and Amazon rallying between 4% and 6%. The good earnings reports from these companies convinced investors that the AI-buildout thesis remains intact.