Wall Street Scales New Heights, Powered By Tech Stocks

• Wall Street's main indexes marched on, with the S&P 500 and Nasdaq hitting record highs on Wednesday, as fresh technology stock buying combined with hopes the Federal Reserve would keep the stimulus taps open after weaker-than-expected private payrolls data.
• Technology stocks, which tend to benefit from a low-rate environment, were up 0.5%. Apple Inc rose 1.2% to its second record high this week, and Microsoft Corp, Amazon.com Inc and Google-owner Alphabet Inc all advanced between 0.4% and 1.4%.
• Wall Street's main indexes have hit record highs recently, with the benchmark S&P 500 notching a solid 20.8% gain so far this year as investors shrugged off risks around a rise in new coronavirus infections and hoped for the Fed to remain dovish in its policy stance.

(Source: Reuters)