Big technology companies powered stocks higher on Wall Street Monday, adding to the market's gains after a three-week winning streak.
Big technology companies powered stocks higher on Wall Street Monday, adding to the market’s gains after a three-week winning streak.
Amazon led the way higher in the S&P 500 with a 7.9% gain. Citrix Systems was close behind, finishing 7.6% higher. Microsoft also helped lift the market, rising 4.3%. Noble Energy climbed 5.4% after the company agreed to be acquired by Chevron for $5 billion. The Nasdaq had its best day since the end of April. It climbed 263.90 points, or 2.5%, to 10,767.09. The Russell 2000 index of small company stocks gave up 5.36 points, or 0.4%, to 1,467.95.
Wall Street is coming off its third straight weekly gain following improvements in hiring, retail sales and other parts of the economy, along with rising hopes for a COVID-19 vaccine. Underlying it all is massive aid for the economy and the promise of nearly zero interest rates from the Federal Reserve. The overall S&P 500 index has rallied back to within 4% of its record set in February and is back to where it was in early June.
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