Tech stocks boost Nasdaq and S&P 500, Dow also higher

Traders working on the floor of the New York Stock Exchange during opening bell on Monday, Aug 21, 2023. – AFPpicThe Nasdaq ended more than 1% higher and the S&P 500 also rose on Monday , with shares of Nvidia jumping as investors were optimistic ahead of its earnings this week, and other technology-related stocks gaining.

The yield on 10-year Treasury notes hit highs last seen during the Great Financial Crisis in 2007 as investors looked warily towards a meeting of central bankers who convene on Thursday at Jackson Hole in Wyoming. Federal Reserve chair Jerome Powell is due to speak on Friday. Nvidia rose 8.5%, leading gains among semiconductor stocks, as HSBC raised its price target on the stock to US$780, the second highest on Wall Street.

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