The Dow Industrial Index (.DJI) closed above 34,000 for the first time yesterday after the blue -chip benchmark and the S&P 500 (.SPX) posted the highest gains on a surge in tech stocks driven by declining U.S. bond yields and retail sales. in the last month.
The S&P 500 recorded its second highest close this week and the Dow surpassed its previous high on April 9th.
The Nasdaq Composite Index (.IXIC) closed above 14,000 for the first time since Feb. 16 and now closes less than 1% from its Feb. 12 high.
The S&P information technology sector (.SPLRCT) also reached an all -time high. The benchmark index and communications services index (.SPLRCL) were also driven by technology giants including Apple Inc (AAPL.O), Microsoft Corp (MSFT.O) and Facebook Inc (FB.O) which recorded jumps of between 1.5% and 1.9%.
The Dow Jones Industrial Average (.DJI) rose 305.1 points or 0.9% to 34,035.99; The S&P 500 (.SPX) jumped 45.76 points or 1.11%, to 4,170.42; and the Nasdaq Composite (.IXIC) added 180.92 points or 1.31%, to 14,038.76.
Rising U.S. market sentiment was due to a surge in retail sales in March after the country’s citizens received additional pandemic assistance from the government.
Unemployment claims also dropped higher than expected to 576,000 last week.
The cryptocurrency exchange index, Coinbase Global Inc (COIN.O) jumped before closing 1.7% lower, a day after making its first appearance on the Nasdaq.
Mobile app firm AppLovin Corp (APP.0) was down 18.5% on the first day of trading after being valued by its initial issuance stock at US $ 28.6 billion.
US trading volume was 9.95 billion shares.
