Tech Gains Push Nasdaq to Another All-Time High

Dow ends day up 224
By Newser Editors and Wire Services
Posted Jul 12, 2018 3:04 PM CDT
Trader Timothy Nick on the floor of the New York Stock Exchange, Thursday, July 12, 2018. Stocks are opening higher as technology companies rally.   (AP Photo/Richard Drew)

(Newser) – Technology companies rose sharply on Wall Street, pushing the Nasdaq composite to another all-time high, the AP reports. The biggest winner in the sector by far was software maker CA, which soared 19% after agreeing to be acquired by Broadcom, a chipmaker. The broad advance wiped out the market's losses from a day earlier, when new tariff threats from the US against China rattled investors. Health care and industrial companies also bounced back. Johnson & Johnson rose 1.2% and Honeywell climbed 2.3%. The S&P 500 jumped 24 points, or 0.9%, to 2,798. The Dow Jones Industrial Average gained 224 points, or 0.9%, to 24,924. The Nasdaq composite added 107 points, or 1.4%, to 7,823. (Read more stock market stories.)

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