WebSify
Follow us on
Mail
Print

S&P 500 reaches new high, led by tech

Source : AP
Last Updated: Mon, Apr 29, 2013 20:17 hrs

Technology companies are leading the stock market higher, pushing the Standard & Poor's 500 index to another record high.

A pair of strong economic reports also encouraged investors Monday. Wages and spending rose in the U.S. last month, and pending home sales hit their highest level in three years.

The S&P 500 closed at 1,593, a fraction above its previous record high reached on April 11. It rose 11 points Monday, or 0.7 percent.

The Dow Jones industrial average closed up 106 points at 14,818, a gain of 0.7 percent.

Major tech companies had the biggest gains in the Dow: Hewlett-Packard, Microsoft and IBM.

Three stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 2.8 billion shares.



blog comments powered by Disqus
most popular on facebook
talking point on sify finance