TSX inches up 16 points as Nasdaq sets record close
According to Reuters, the S&P 500 added 51.23 points, or 0.66 percent, to 7,773.95, about 0.3 percent below its record closing high of August 13.
The Dow Jones Industrial Average rose 90.94 points, or 0.18 percent, to 51,267.90.
Nvidia closed at a record, up 2.1 percent, taking its market value to US$5.76tn, Reuters reported.
Microsoft added 1.5 percent, and Meta Platforms and Tesla each gained about 2 percent. Ten of the 11 S&P 500 sector indexes rose, led by materials at 1.22 percent.
Technology is “sort of like the inverse bond trade,” Infrastructure Capital Advisors founder and chief executive Jay Hatfield told CNBC, adding that the sector’s earnings growth and low-rate sensitivity have made it a haven since the pandemic.
