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(Reuters) – The Nasdaq composite hit a record high on Tuesday as Alphabet's results sparked a rebound in high-growth stocks and heightened expectations of a strong price campaign. oil and metals have boosted energy and materials companies.
The benchmark S & P 500 reached its highest level since early February and is less than 2% of its record at the end of January.
Alphabet shares climbed 5.3% to a record high of $ 1,275 after quarterly results of the online search giant beat Wall Street targets
. helped push the S & P technology sector 0.82% higher. Facebook and Amazon increased by 1.6% and 1.4% respectively. Both report later this week.
Technology stocks led the upturn after the uproar in early 2018 that dragged US equities into a correction and helped erase virtually all market losses.
Caterpillar jumped 2% while Deere gained 4.2% and Agco 1.8%.
"Markets are really anchored in," said David Lyon, international investment specialist at JP Morgan Private Bank in San Francisco.
At 11:39 am EDT, the Dow Jones Industrial Average rose 198.27 points, or 0.79%, to 25,242.56, the S & P 500 was up 15.95 points, or 0.57 %, at 2,822.93 and Nasdaq Composite up 33.90 points, or 0.43%, to 7,875.78
. The promoters posted a 1.22 to 1 ratio on the Nasdaq, while advancing emissions in excess of 1.38 to 1 on the NYSE.
Eight of the top 11 S & P sectors traded higher. The energy sector dominated the winners, up 1.26% due to higher crude oil prices.
The materials sector grew by 1.22% as metal prices, particularly aluminum, rose.
Netflix dropped 1.3 percent and was the biggest drag on the Nasdaq and the S & P 500.
Harley-Davidson jumped 7.9 percent after its profit beat the estimates and expected lower margins. 1965-19002] After posting weak quarterly results and lowering its forecast for the year, Whirlpool tumbled 13.7% to a two-year low
Biogen rose 4.1% and Eli Lilly of 2.3%. results. Lilly also said that his animal health unit would be public
The S & P index posted 31 new highs of 52 weeks and two new lows, while the Nasdaq recorded 107 new highs and 31 new lower.
(Reportage by Amy Caren Daniel in Bangalore, edited by Sriraj Kalluvila)
(This story was not edited by Business Standard staff and is generated automatically from a syndicated feed .)
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