Nasdaq sets 6th straight record high; Apple, tech shares lifts Wall Street

NASDAQ record high

Wall Street climbed on Monday, boosted by gains in Apple and other big tech stocks that more than offset weak economic data and pushed the Nasdaq Composite to another record high.

The tech-heavy benchmark ended the day 0.7 per cent higher at 6,091.60, a new closing high. The gauge had also set a new intraday record after rallying as much as 0.9 per cent to cross the 6,100 mark – less than a week after it broke past the 6,000 level.

Apple shares jumped 2 percent and set a record high, supporting the three major Wall Street indexes. The iPhone maker is due to report its results on Tuesday.

The S&P 500 technology index, the best performing major group this year, gained 0.9 percent, with big tech names including Microsoft, Alphabet and Facebook hitting records.

The Dow Jones Industrial Average fell 27.05 points, or 0.13 percent, to 20,913.46, after notching its best weekly performance of 2017 last week.

Earlier, the blue-chip benchmark briefly slipped into negative territory following comments by President Donald Trump that he was looking at breaking up big banks, with a retreat in financials contributing to much of that dip.

Financials rose 0.6 percent despite volatility caused by President Donald Trump's comments that he was actively considering breaking up big banks.

Investors girded for more data later in the week, including Friday's employment report, as well as for the two-day U.S. Federal Reserve meeting starting on Tuesday.


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