NEW YORK: The S&P 500 and the Nasdaq hit new highs on Tuesday with technology leading the charge as Apple and Zoom Video soared and better-than-expected U.S. manufacturing sector data fueled optimism about the economic recovery.
"There’s a bit of support from the economic data as far as it improves sentiment for the market but I think today investors are looking at the good earnings we saw coming out of tech," said Veronica Willis, investment strategy analyst at Wells Fargo Investment Institute in St. Louis. While the Nasdaq and the S&P 500 were scaling all-time highs, the blue-chip Dow was still about 3.5per cent below its February peak.Hopes that Senate Republicans will unveil a new coronavirus relief bill next week also helped boost sentiment.
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