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The Boston Globe

Business

Snapshot: S&P 500 sets record as tech stocks rise

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Tech led the S&P 500 to a record closing high. Tech stocks on other indexes rose, too: Apple, the biggest Nasdaq stock, surged 3%. On the Dow, Microsoft and IBM were among top performers, up more than 2% each. Earlier this month, tech stocks lagged on concern about weak business spending and slower overseas sales. The Dow is just 46 below its record high, hit April 11. Stocks have now regained all ground lost over two weeks of worries about slower growth, falling commodity prices, and quarterly earnings. Two reports encouraged investors: Wages and spending rose last month, and pending home sales hit a three-year high.

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