Economics
Nasdaq Composite Climbs on Tech Rally While Energy Shares Slump
Craig Hodges on Fed Policy, Investment Strategy
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The Nasdaq Composite Index climbed closer to a record amid a rally in technology companies, while a slump in energy shares sent the Standard & Poor’s 500 Index lower.
Salesforce.com Inc. soared 12 percent after it raised its revenue forecast, pacing gains among technology shares. Phone companies climbed 0.5 percent in the S&P 500 as the Federal Communications Commission adopted net-neutrality rules. Chevron Corp. and Exxon Mobil Corp. lost more than 1.1 percent as energy companies dropped 1.8 percent.