Dow Posts First Close Above 45,000; S&P 500 Rises to New Record as Tech Shares Surge
The S&P 500 and Nasdaq Composite scaled to record highs Wednesday, with tech shares leading the charge following strong reports from Salesforce and Marvell Technology.
The broad market index gained 0.6%, while the tech-heavy Nasdaq advanced 1.2%. The Dow Jones Industrial Average traded 328 points higher, or 0.7%.
Salesforce climbed 9% after the company posted fiscal third-quarter revenue that beat estimates. Chipmaker Marvell also beat earnings expectations and issued strong fourth-quarter guidance, advancing 24%. The stock was headed for its best daily performance since May 26, 2023.
Those moves powered the Technology Select Sector SPDR Fund (XLK) to its first all-time high since July. It was last up 1.5%.
Source : CNBC