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Dow Leaps 300+ En Route to New High
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S&P Flat as Fed Decision Looms Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Thursday, March 21, 2024
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Stocks climbed Thursday and technology shares outperformed, adding to the previous session's gains that led to new records on Wall Street.
The Dow Jones Industrials marched upward 310.38 points to 39,822.51.
The S&P 500 index hiked 30.4 points to 5,255.02,
The NASDAQ rocketed 113.7 points to 16,483.10.
Micron Technology jumped more than 14% on strong earnings and headed for its best day since December 2011. The news lifted the semiconductor sector, with Nvidia and Advanced Micro Devices last up more than 1% each. Marvell Technology, Intel and Taiwan Semiconductor jumped about 3%.
Megacap tech stocks that led the recent rally also contributed to the session's gains, with Meta Platforms, Microsoft and Amazon adding at least 1%. Apple bucked the broader tech-driven uptrend, slumping nearly 2% on a report that the Justice Department could file an antitrust lawsuit against the iPhone maker.
Thursday's moves follow a winning day on Wall Street that sent the three major indexes to new closing highs, with the S&P 500 breaking above 5,200 for the first time.
Prices for the 10-year Treasury were static, keeping yields at Wednesday's 4.28%.
Oil prices slid 44 cents to $80.83 U.S. a barrel.
Gold prices rallied $24.60 to $2,185.60.
Stocks Continue Record Run
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