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

By Mark DeCambreMarketsMarketWatch 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 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. .

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