Tech Stocks Lead Wall Street to Gains

Good news on a vaccine candidate also helps
By Newser Editors,  Newser Staff
Posted Jul 20, 2020 3:17 PM CDT
Tech Stocks Lead Wall Street to Gains
A sign for a Wall Street building is shown in New York.   (AP Photo/Mark Lennihan, File)

A strong day for tech companies and hope on the coronavirus vaccine front to led to gains Monday on Wall Street. The tech-heavy Nasdaq rose 263 points, or 2.5%, to 10,767, while the benchmark S&P 500 rose 27 points to 3,251, and the Dow eked out a gain of 8 points to 26,680. Gains in the latter two indexes were muted because of what the Wall Street Journal calls "businesses' dimming outlook" amid the pandemic. The story also notes friction in getting a new coronavirus relief package passed.

“Until we have more clarity around all these different issues, it wouldn’t surprise us if the market ended the year right where we are today,” Sameer Samana, senior global market strategist at Wells Fargo Investment Institute, tells the AP. Investors, meanwhile, are keeping an eye on earnings reports this week from companies including IBM, Coca-Cola, and Microsoft. (More stock market stories.)

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