Nasdaq jumps 2.5% to fresh record as big tech shares soar

NEW YORK: The Nasdaq powered to another record on Monday behind strong gains by Amazon, Microsoft and other tech giants ahead of earnings reports in the coming days.The Dow Jones Industrial Average added less than 0.1 per cent at 26,680.87, while the broad-based S&P 500 gained 0.8 per cent to 3,251.84.

Shares of Amazon surged 7.9 per cent after Goldman Sachs lifted its price target on the e-commerce giant, estimating North American revenues rose 48 per cent in the second quarter. "Investors are hedging their bets by buying stocks that don't benefit from the economic rebound as much as they benefit from a continuation of high fear surrounding coronavirus."

The strength partly reflects unprecedented stimulus from the Federal Reserve and from Congress, where another round of stimulus legislation is expected to be debated in the coming days.

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US: Nasdaq jumps 2.5% to fresh record as big tech shares soar[NEW YORK] The Nasdaq powered to another record Monday behind strong gains by Amazon, Microsoft and other tech giants ahead of earnings reports in the coming days. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US: Nasdaq jumps 2.5% to fresh record as big tech shares soar[NEW YORK] The Nasdaq powered to another record Monday behind strong gains by Amazon, Microsoft and other tech giants ahead of earnings reports in the coming days. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »