Tuesday, 17 July 2018
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Tech rally sends Nasdaq 100 to record high, with broader Nasdaq not far behind
Thursday, 12 July 2018 23:28 WIB | MARKET UPDATE |DOW JONESS & P 500 Standard & Poor's 500Saham ASNasdaq

The Nasdaq 100 rallied to a record high on Thursday, supported as large-capitalization technology and internet stocks extended their massive year-to-date rally. The index which is heavily concentrated with major tech stocks, gained 1.4% in midday trading, hitting an intraday record of 7,347.07. Supporting the index was Microsoft Corp. which added 2.2%, and Alphabet Inc., the parent company of Google, which was up 2.3%.

Tech shares rose broadly, with Apple Inc. advancing 1.6% and Facebook Inc. up 1.9%. Amazon.com Inc. which is classified in the consumer discretionary sector, rose 1.8%. The online retail giant has been the biggest boost to the index in 2018, having gained more than 50% thus far this year.

The Dow Jones Industrial Average rose 0.9% on Thursday while the S&P 500 rose 0.7% and the Nasdaq Composite Index rose 1.1%, moving within 0.1% of a record of its own. At current levels, the Nasdaq is on track to close at a record.

Source: Marketwatch

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