Tech stocks power Nasdaq to record high | Malay Mail

NEW YORK, Sept 1 — The Nasdaq Composite hit a record high today, with high-growth technology stocks in the lead after weaker-than-expected private payrolls data raised hopes for an extended support from the US central bank.

The ADP report, published ahead of the government’s more comprehensive employment report on Friday, showed US private employers hired far fewer workers than expected in August. Wall Street’s main indexes have hit record highs recently, with the benchmark S&P 500 notching a solid 2.9 per cent rise in August as investors shrugged off risks around a rise in new coronavirus infections and hoped for the Fed to remain dovish in its policy stance.

Economically sensitive energy stocks, materials and industrial stocks fell between 0.6 per cent and 0.9 per cent, keeping the S&P 500 and Dow subdued. Shares of Calvin Klein and Tommy Hilfiger owner PVH Corp surged 13.8 per cent after it raised its full-year earnings forecast.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US stocks, global equities end at record highs as oil prices gain | Malay MailWASHINGTON, Aug 31 ― US and global equity benchmarks hit all-time highs yesterday, as the Federal Reserve appeared in no rush to step away from its massive stimulus, and US oil prices finished higher. MSCI's benchmark for global equity markets hit a record. The S&P 500 and Nasdaq also rose to...
Source: malaymail - 🏆 1. / 86 Read more »

European stocks edge towards record highs shaking off growth worries | Malay MailBERLIN, Sept 1 — European stocks edged closer to record highs today as fresh signs of weakness in Asian economies were offset by hopes for more stimulus, while investors shook off concerns about rising inflation. After seven straight months of gains, the pan-European STOXX 600 started September...
Source: malaymail - 🏆 1. / 86 Read more »