“Tech Stocks Drive S&P 500 and Dow to Record High Closes” – U.S. News & World Report

The S&P 500 and Dow Jones Industrial Average closed at record highs on Tuesday, fueled by strong performances in the technology sector.

The S&P 500 rose 0.6% to close at 4,319.94, while the Dow gained 0.3% to end the day at 35,887.41. Both indexes surpassed their previous closing highs set last month.

Tech stocks led the way, with Apple, Microsoft, and Amazon all posting gains. Apple rose 1.5%, Microsoft gained 1.2%, and Amazon climbed 1.8%. The strong performance of these tech giants helped push the Nasdaq Composite up 1.2% to close at 14,738.00.

Investors were encouraged by positive economic data, including a report showing that consumer confidence rebounded in June. The Conference Board’s index of consumer confidence rose to 127.3, up from 120.0 in May and well above economists’ expectations.

The rally in tech stocks and positive economic data helped offset concerns about rising inflation and the Federal Reserve’s plans to taper its bond-buying program. The Fed has indicated that it may start reducing its monthly bond purchases later this year, which could put upward pressure on interest rates.

Despite these concerns, investors remain optimistic about the outlook for the economy and corporate earnings. Many analysts expect earnings growth to remain strong in the second half of the year, which could support further gains in the stock market.

Overall, it was a positive day for investors, with the S&P 500 and Dow reaching new highs and tech stocks leading the way. The strong performance of these companies bodes well for the broader market, as investors continue to bet on the strength of the U.S. economy.