BUSINESS US stocks end higher as tech shares lead

BUSINESS

US stocks end higher as tech shares lead

Xinhua

06:17, May 05, 2020

137083735_15227125268821n.jpg

(Photo: Xinhua)

NEW YORK, May 4 (Xinhua) -- Wall Street's major averages reversed earlier losses to close higher on Monday as the market was bolstered by solid gains in shares of big tech names.

The Dow Jones Industrial Average increased 26.07 points, or 0.11 percent, to 23,749.76. The S&P 500 rose 12.03 points, or 0.42 percent, to 2,842.74. The Nasdaq Composite Index jumped 105.77 points, or 1.23 percent, to 8,710.71.

Shares of US tech giants, the so-called FAANG group of Facebook, Apple, Amazon, Netflix and Google-parent Alphabet, all closed higher.

Eight of the 11 primary S&P 500 sectors gained, with energy and technology up 3.7 percent and 1.4 percent, respectively, outpacing the rest.

Airline shares slid broadly. Billionaire investor and Berkshire Hathaway Chairman Warren Buffett said Saturday that his conglomerate had sold all of its airline stocks, sending an alarming signal to the US airline industry devastated by the COVID-19 outbreak. 


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue