The recently embattled technology sector on Monday was enjoying a reprieve, with the group on pace to book its best one-day gain since in months. The S&P 500’s information technology names were looking at a 1.4% rise, which would mark the best daily climb since December, according to FactSet data. The rally in the tech sector, which has been mostly retreating after many of its most prominent names, including Apple Inc.
and Amazon.com Inc.
hit all-time highs, helped to drive the S&P 500 index
and the Dow Jones Industrial Average
to an all-time trading highs. A popular way to track the technology sector, the Technology Select Sector SPDR ETF
was up 1.2%, also on pace for its best daily gain since March 1. Gaines in Advanced Micro Devices Inc.
Micron Technology Inc.
and NVIDIA Corp.
led the ETF’s charge higher. The tech-heavy Nasdaq Composite Index
was up 1.2% and on pace for its best daily gain on a percentage basis since April 24. On a point basis, the index is looking at the best daily gain since March 1.
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Dow, S&P 500 end at records as tech shares rebound