Dow jumps nearly 400 points as tech leads market surge, Amazon and Netflix hit records
Stocks traded sharply higher on Monday, led by strong gains in the tech sector, as Wall Street tried to build on the momentum from last week’s solid performance and shake off a continued rise in coronavirus cases.
The Dow Jones Industrial Average rose 395 points, or 1.5%, while the S&P 500 gained 1.6%. The tech-heavy Nasdaq Composite jumped 2.5% to an all-time high.
There were a few reasons for the bullish lift to start the week:
- The biggest technology companies led the gains with Apple, Amazon, Microsoft and Google-parent Alphabet all climbing more than 2%. Amazon shares also hit $3,000 for the first time. Netflix shares reach an all-time high as well. The Nasdaq-100 — which is made up of the composite’s 100-largest nonfinancial stocks — jumped 2.7% on Monday, bringing its 2020 gains to more than 20%.
- Dealmaking also boosted sentiment. Warren Buffett made his first major …continued .
[Source: CNBC News]