• 1
  • 1
  • Favorite

Dow clinches 3rd straight gain as tech, communication-services stocks support Monday climb

Dow Jones2021-05-25

MW Dow clinches 3rd straight gain as tech, communication-services stocks support Monday climb

U.S. stock benchmarks closed solidly higher Monday, powered by a rebound in shares of technology and communication-services companies, as investors shook off concerns about out-of-control inflation to hunt for buying opportunities among assets that have been battered in the tumultuous economic recovery phase from COVID. The Dow Jones Industrial Average [: DJIA] closed up 186 points, or 0.5%, to around 34,394, marking the third straight gain for blue chips. The S&P 500 index rose 1% to 4,197, with gains in information technology, up 1.8%, and communication services, rising 1.8%, leading the charge higher for the broad-market benchmark. The tech-heavy Nasdaq Composite Index closed 1.4% higher at about 13,661. In corporate news, shares of Virgin Galactic Holdings Inc. $(SPCE)$ shot up nearly 30% after the space exploration company completed its first rocket-powered flight from New Mexico to the fringe of space in a manned shuttle.

-Mark Decambre; 415-439-6400; AskNewswires@dowjones.com

 

$(END)$ Dow Jones Newswires

May 24, 2021 16:08 ET (20:08 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment1

  • Erictanmx
    ·2021-05-25
    This good to hear
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial