S&P 500 Closes At Record High As Investor Optimism Reaches Highest Level Since 2017

www.forbes.com
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Technology stocks like Apple and Twitter led the market Thursday.
Topline

With recently resurgent technology stocks heading up the market's gains, the S&P 500 nabbed a new closing high on Thursday as investor sentiment hit its most bullish level in more than three years, a sign Wall Street may be getting over its concerns that rising interest rates might tank the market.

A pair of traders share a laugh on the New York Stock Exchange floor. ASSOCIATED PRESS

Key Facts

The S&P 500 climbed 0.4% Thursday, closing at a new record high for the third day in a row. Meanwhile, the Dow Jones Industrial Average, which tracks the prices of 30 market leaders including Walt Disney, Nike and Goldman Sachs, ticked up about 0.2%, ending the day less than 0.1% off a record high from Monday. Technology stocks outperformed the broader market Thursday, with the tech-heavy Nasdaq climbing nearly 1% as PayPal, Intuit and Autodesk jumped about 3% apiece. Big tech also rallied: Salesforce, Twitter and Apple all added between 2% and 3% as yields on the ten-year Treasury, which have spiked this year and spooked investors away from high-priced stocks, fell to their lowest levels in nearly two weeks. The uptick comes as…
Jonathan Ponciano
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