Tech Stocks Lead Rally

But Boeing drop hits Dow
By Newser Editors and Wire Services
Posted Mar 11, 2019 3:16 PM CDT
Trader Joseph Lawler, left, and Chris Crotty work on the floor of the New York Stock Exchange, Monday, March 11, 2019.   (AP Photo/Richard Drew)

(Newser) – A rally in the technology sector is pushing US stocks to broad gains Monday, led by Apple and chipmakers, the AP reports. The S&P 500 posted its biggest increase since late January. Nvidia was the index's strongest performer after agreeing to buy chipmaker Mellanox. Apple benefited from an analyst upgrade. The S&P 500 gained 40 points, or 1.5%, to 2,783. The Nasdaq, heavily weighted with tech stocks, jumped 149 points, or 2%, to 7,558. The Dow Jones Industrial Average rose 200 points, or 0.8%, to 25,650. A sharp drop in Boeing shares restrained the Dow's advance. The upbeat start Monday follows the worst week of the year for the S&P 500. Stocks were helped by a US government report showing retail sales rose slightly in January after falling in December. (Read more stock market stories.)

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