S&P 500 Is Closing in on Record

Dow up 236 points
By Newser Editors and Wire Services
Posted Aug 3, 2020 3:54 PM CDT
S&P 500 Is Closing in on Record
Pedestrians wearing pass by the New York Stock Exchange in New York.   (AP Photo/Frank Franklin II, File)

Stocks closed broadly higher on Wall Street and around the world Monday following several encouraging reports on the economy. The S&P 500 added another 0.7% onto its four-month winning streak. The benchmark index is now back within 3% of the record high it set in February. Big Tech led the way higher again, and Microsoft and Apple alone accounted for much of the S&P 500's gain. Microsoft, which in talks to buy the US arm of TikTok, was up $11.53 to $216.54. Earlier, reports showed that manufacturing improved across much of the world, including in Europe and the United States. Treasury yields, small-company stocks, and crude oil prices also rose, the AP reports. The S&P 500 rose 23.49 points to 3,294.61. The Dow Jones Industrial Average gained 236.08, or 0.9%, to 26,664.40. The Nasdaq composite climbed 157.52, or 1.5%, to 10,902.80. (More stock market stories.)

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