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Big Tech fuels Nasdaq record, Reuters S & P 500 dip

© Reuters. File Photo: The New York Stock Exchange (NYSE) floor will be displayed on March 18, 2020, after closing in New York, USA. REUTERS / Lucas Jackson / File Photo

(Reuters)-Although it fell on Tuesday, the Nasdaq hit a record high. Investors have balanced concerns about a slowing pace of economic recovery with expectations that the Federal Reserve will maintain accommodative monetary policy.

Amgen Inc (NASDAQ :) fell 2.3% and Merck & Co subsequently fell 1.6% Morgan Stanley (NYSE :) The stock rating has been downgraded from “overweight” to “equal weight”.

The Nasdaq has risen to record highs, supported by Big Tech stocks, which have boosted Wall Street’s rise in recent years. Apple (NASDAQ :) rose 1.5% and Netflix (NASDAQ :) rose 3%, both record highs. Amazon (NASDAQ :) was up 1.3%.

Tom Martin, Senior Portfolio Manager, Global Investments, Atlanta, said:

Much of the rest of Wall Street has fallen. Eight of the 11 sub-indexes fell, driven by economic-sensitive sectors such as industry, real estate and materials.

Last Friday’s Tepid August salary data raised concerns that the economic recovery was slowing.

Benchmark indexes hit record highs in recent weeks due to simple central bank policies and reopening optimism, but concerns about increased coronavirus infections and the impact of delta mutations on economic recovery could hinder recovery. there is.

In the afternoon trading, the S & P 500 fell 0.20% to 4,526.57, while fell 0.58% to 35,164 points.

The added 0.2% is 15,394.91.

The S & P 500 hit a record high on Thursday, up about 20% year-to-date.

Boeing (NYSE :) Co fell 1.8% after Ireland’s Ryanair said it had closed negotiations with plane makers to buy a tens of billions of dollars worth of 737 MAX 10 jets due to price differences. ..

Match Group Co., Ltd. (NASDAQ :) Shares soared 6.4% after the S & P Dow Jones Index announced Friday that The Tinder’s parents would join the benchmark index.

Columbia Property (NYSE :) Trust Inc. surged 15% after Pacific Investment Management Company announced that it would acquire the company for $ 2.2 billion. [L4N2Q92J1]

The diminishing issues outweigh the ongoing issues on the New York Stock Exchange in a 2.01: 1 ratio. In the Nasdaq, a 1.50 to 1 ratio favored the declining.

The S & P 500 posted 16 new 52-week highs and one new low. The Nasdaq Composite recorded 107 new highs and 18 new lows.

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Big Tech fuels Nasdaq record, Reuters S & P 500 dip

https://www.investing.com/news/stock-market-news/futures-lower-as-worries-over-economic-recovery-weigh-2609244 Big Tech fuels Nasdaq record, Reuters S & P 500 dip

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