Tech Stocks Rally, S&P 500 Reaches New Record Closing High

By RTTNews Staff Writer4 days ago

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After ending the previous session little changed, stocks moved mostly higher over the course of the trading day on Thursday. The tech-heavy Nasdaq showed a particularly strong upward move, while the S&P 500 reached a new record closing high.

The major averages all closed in positive territory, although the Nasdaq outperformed its counterparts. While the Nasdaq jumped 140.47 points or 1 percent to 13,829.31, the S&P 500 rose 17.22 points or 0.4 percent to 4,097.17 and the Dow inched up 57.31 points or 0.2 percent to 33,503.57.

The advance by the Nasdaq partly reflected strength among big-name tech stocks, with Tesla (TSLA), Apple (AAPL) and Microsoft (MSFT) posting notable gains.

The strength among tech stocks came following the Federal Reserve's repeated assurances that monetary policy is likely to remain unchanged for the foreseeable future.

The minutes of the Fed's March meeting reiterated that the central bank does not intend to change its ultra-loose monetary policy anytime soon.

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