Tech Stocks Rally, Leading S&P 500 Above 4,000: Live Updates
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By: Ella Koeze·Data delayed at least 15 minutes·Source: FactSet
A rally in big technology stocks, a tailwind of economic optimism following the latest big spending plan from the Biden administration and a jump in oil prices all came together on Thursday to lift Wall Street and lead the S&P 500 index above 4,000 for the first time.
It was a second consecutive day of gains in technology stocks, which had struggled in February and March to keep pace with the rest of the market as investors shifted their focus to companies that stood to gain from the pandemic recovery, such as smaller businesses and manufacturing and industrial firms.