US Stocks Rise as Tech Drives Nasdaq to Record High
The S&P 500 and Nasdaq advanced as heavyweight technology stocks pushed higher, even as elevated Treasury yields kept risk sentiment in check. Strong corporate earnings expectations and acquisition news also supported market momentum.
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The S&P 500 rose 38.67 points, or 0.50%, to 7,761.39 and the Nasdaq reached all-time highs on Monday midday as megacap tech stocks advanced. The gains occurred even as United States Treasury yields held near multi-year highs. The rally demonstrates how the artificial intelligence sector can offset headwinds from elevated interest rates, according to Triple D Trading founder Dennis Dick.
