Nasdaq Tops All-Time High Amid Tech Rebound, Optimism on Greece
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The Nasdaq Composite Index closed at a record, after the biggest drop for U.S. stocks in three weeks, as technology shares rebounded and investors watched for progress in talks on Greece.
Semiconductors rallied, while Apple Inc. gained 1.9 percent after dropping more than 2 percent Tuesday. Microsoft Corp. climbed 2.2 percent. Tiffany & Co. jumped 11 percent after its profits beat estimates. Airlines snapped a five-day losing streak. Hormel Foods Corp. advanced after agreeing to buy closely held Applegate Farms LLC. Michael Kors Holdings Ltd. tumbled 24 percent after its earnings forecast missed projections.