Dow climbs 236 points, Nasdaq hits record high as tech giants soar
AP Images / Richard Drew
- US equities gained on Monday as investors focused on deliberations on a new stimulus bill and looked past escalating China tensions.
- Tech giants drove the Nasdaq composite to a record intraday high. Microsoft led the pack after confirming its talks about buying TikTok.
- Congressional leaders and Trump administration officials met over the weekend to continue ironing out a fiscal relief measure. Negotiations about expanded unemployment benefit remain at a standstill since the $600-per-week boost expired on Friday.
- Fears of a soured US-China relationship resurfaced after Secretary of State Mike Pompeo said on Sunday that the White House might take action against Chinese software companies "in the coming days."
- Watch major indexes update live here.
Stocks gained on Monday as investors continued crowding into tech giants and stayed hopes for Congress to pass another stimulus package.
Tech mega-caps led benchmark indexes higher and drove the Nasdaq composite to an intraday record. Apple, Alphabet, and Amazon all traded higher in the morning.See the rest of the story at Business Insider
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