The Nasdaq set a new record for the first time since June, while the S&P 500 had its best day since August
Indices posted their strongest gains since August / Photo: X/NYSE
The Nasdaq Composite, an index of "technology" stocks, set a new record at the close of trading, rising to 27,122.09 points. It gained 2.26% over the course of the day. The index reached a new high for the first time in nearly four months—since late June. The Nasdaq 100 Index, which includes the companies with the largest market capitalization, rose even more—by 2.83%.
The S&P 500 broad-market index rose 1.49%, marking its best one-day performance since August, according to Bloomberg. The Dow Jones Industrial Average, a blue-chip index, rose 0.71%.
A sharp rise in technology stocks lifted the indices; the rally was also fueled by falling oil prices and optimism surrounding the meeting between U.S. President Donald Trump and Chinese President Xi Jinping, according to Bloomberg.
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