Technology stocks lifted US equity markets as US Treasury yields continued to moderate – Dow up +57-points or +0.17% . The broader S&P500 rose +0.42% to 4,097.17, booking its 19th record closing high of 2020 after also logging a fresh record intra-day high (4,098.19). Information Technology (up +1.42%) led six of the eleven primary sectors higher. Energy (down -1.36%) was the worst performing primary sector. Overnight also marked the third straight session that the S&P500 has logged an intra-day trading range of less than<0.50% - the longest such streak since January 2020. The Nasdaq rallied +1.03% to 13,829.31 and close within 2% of its 12 February record closing high (14,095.47), with Apple Inc (up +1.92%), Netflix Inc (+1.39%) and Microsoft Corp (+1.34%) all climbing more than >1%. The small capitalisation Russell 2000 index rose +0.88%, clawing back some of the previous session’s -1.6% decline. The Russell 1000 growth index, which consists heavily of tech-related stocks, gained +1.05%. Its value counterpart, comprising mostly financials and energy names, dipped -0.05%.
