Wall Street Breaks Records as Big Tech Stocks Continue to Surge
Money | June 17, 2024, 5:04 p.m.
U.S. stocks reached new heights as technology companies drive the market upward, with the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all hitting record highs. Autodesk and Broadcom were among the top performers, bolstered by positive news and strong financial results. Big Tech stocks, such as Apple and Microsoft, also saw gains. While rising Treasury yields initially caused some market pressure, continued momentum in the tech sector helped offset this. Manufacturing in New York state is improving, though still contracting, amid the Federal Reserve's efforts to manage inflation and interest rates. In overseas markets, European indexes stabilized after recent losses, while Asian markets saw declines. Overall, the positive performance of tech companies and easing inflation concerns have investors optimistic about the market outlook.