Dow, S&P 500 Book Records On Resurgent Tech Sector

By Mark DeCambre Markets MarketWatch Pulse

The Dow industrials and the S&P 500 index on Monday closed at all-time highs, powered by a rebound in shares of technology companies, which had experienced a recent bout of weakness. The Dow Jones Industrial Average finished up 0.7% at 21,528, the S&P 500 index closed up 0.8%, at 2,453, led by a a 1.6% rally in the tech-sector, the session's best performer among the S&P 500's 11 sectors. The tech-laden Nasdaq Composite Index , meanwhile, added 1.4% to close at 6,239--still about 80 points from its record close set June 8, before the sectors high-fliers, including Amazon.com Inc. and Netflix Inc., and others started to show signs of rising too high, too fast. Overall, the tech sector enjoyed its best daily advance in months, with the S&P 500's tech sector booking its best daily climb since Dec. 7, 2016, while a popular way to trade the sector, the Technology Select Sector SPDR ETF , jumped 1.5% for its best daily gain since December, led by shares of Micron Technology Inc. , Advanced Micro Devices Inc. , and NVIDIA Corp. .

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.