US stock market today: S&P 500, Dow Jones, Nasdaq climb, Magnificent Seven tech stocks soar; Check top gaining shares
US Stock Market's main indexes — S&P 500, Dow Jones Industrial Average, and Nasdaq Composite — all ended higher on Monday aided by gains by many of the so-called Magnificent Seven tech stocks in the Wall Street.
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The S&P 500 gained 43.22 points, or 0.73 per cent, to 5,974.07 points, and the Nasdaq Composite rose 192.29 points, or 0.98 per cent, to 19,764.89. The Dow Jones Industrial Average climbed 66.69 points, or 0.16 per cent, to 42,906.95.
With megacap stocks having outsized influence on markets, their performance during a week in which many investors take time off will be even more pronounced. Volumes on U.S. exchanges were 12.76 billion shares, down from the 14.89 billion shares average from the previous 20 trading days.
Meta Platforms, Nvidia and Tesla all closed between 2.3 per cent and 3.7 per cent higher, with Apple, Amazon.com, and Google parent Alphabet also in positive territory. The gains helped propel the Nasdaq Composite and the Dow Jones Industrial Average to their third straight increases, and a second advance in three sessions for the S&P 500.
Northlight's Zaccarelli said he believed conditions were right for such a rally, as this year's gains would likely mean investors would hold on to positions as opposed to selling and booking losses which they can use for tax purposes.
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