broke the $3,000 barrier to finish Monday’s trading session at an all-time record of $3,057.04, leading a wave of tech stocks at record highs.Composite itself continues to set records, closing Monday at 10,433.65. It has gone up 14% in 2020 to date, erasing steep losses in February and March.
Apple climbed 3% to $373.85. Alphabet increased 3% to $1,495.70, which was slightly below its all-time mark. Microsoft gained 2% to get to $210.70. It was the first time that Amazon, Apple, Alphabet and Microsoft each had a market value of $1 trillion apiece.by and large have only solidified their positions in society and global economies.
Stock markets are not the same as the economy, of course. The U.S. and many other countries are in an unprecedented financial bind, with the pandemic and deep uncertainty about consumer spending slowing growth to a standstill, with unemployment rates staying well into double digits.shares added another 4% to reach $493.81. They have nearly doubled since last summer, when a quarterly earnings miss and the imminent launches of Disney+ and Apple TV+ spooked some investors.
Amazon, similarly, has symbolized the ability of certain companies to thrive during the pandemic. The company reported strong earnings for the first quarter, but said it planned to plow any profits from the second quarter into an ambitious suite of response measures. In 2020 to date, Amazon shares have risen 61% and their current level is well ahead of Wall Street analysts’ consensus price target of $2,803.75.
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Source: CNBC - 🏆 12. / 72 Read more »