Wall Street's main indexes jumped on Wednesday, with the S&P 500 crawling towards a record high in a broad rally led by tech stocks, although some investors were cautious following a stalemate over the new coronavirus relief bill.
All major S&P sectors climbed, with technology .SPLRCT, communication services .SPLRCL and health .SPXHC leading percentage gains.
“We’re seeing buyers show up very quickly, any chance they get when the market declines. To me, that’s a very bullish sign,” said Adam Sarhan, chief executive of 50 Park Investments in New York. With a better-than-feared second-quarter earnings season largely over, investors are preparing for the risk of a contested U.S. presidential election in the fall.
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