empty
 
 

2017.11.2121:51:00UTC+00Wall Street Gains as Tech Rallies

U.S. stocks advanced to record peaks on Tuesday as a rally in tech boosted the wider market.

The Dow Jones industrial average rose 0.69 percent to 23,590.83, a record. Apple climbed 1.9 percent and was the best-performing stock on the 30-stock index.

The S&P 500 increased 0.7 percent to 2,599.03, an all-time peak, with information technology as the best-performing sector. The index also broke above 2,600 for the first time during the session.

The Nasdaq composite climbed 1.1 percent to an all-time peak of 6,862.48. Large-cap tech stocks like Facebook, Amazon, Netflix and Alphabet all ended higher, along with the iShares Nasdaq Biotechnology ETF.

Healthcare stocks also advanced following bullish results from medical device maker Medtronic, whose shares climbed 4.8 percent after the firm posted better-than-expected results and showed support for its full-year forecast.

The S&P technology index rose 1.2 percent, buoyed by an almost 1.9 percent gain in Apple. The index has increased 38.6 percent in 2017, by far more than any other sector.

Goldman Sachs improved its earnings estimate for S&P 500 firms in 2018 and 2019 based on expectations of U.S. corporate tax reform, above-trend global and U.S. economic expansion and gradual rising interest rates from a low base.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback