Economic review

U.S. stocks rally amid rising tech shares

2018-09-12 04:47:44 (Beijing Time)


NEW YORK, Sept. 11 (Xinhua) -- U.S. stocks ended higher on Tuesday as the market was boosted by a rebound in tech shares.

The Dow Jones Industrial Average increased 113.99 points, or 0.44 percent, to 25,971.06. The S&P 500 rose 10.76 points, or 0.37 percent, to 2,887.89. The Nasdaq Composite Index was up 48.31 points, or 0.61 percent, to 7,972.47.

Apple and Microsoft were among the winners in the Dow. Shares of the companies gained 2.53 percent and 1.70 percent, respectively, at the close. Trade-sensitive stock Boeing managed to recover from early loss and closed 0.99 percent higher.

Tech sector rose more than 0.8 percent. Tech-heavy stocks including Netflix, Amazon and Twitter all rallied, underpinning the market.

Wall Street also digested a slew of economic data.

The U.S. Small-Business Optimism Index rose to 108.8 in August from the July reading of 107.9, topping the July 1983 high-water mark of 108, the National Federation of Independent Business said on Tuesday.

The number of U.S. job openings was little changed at 6.9 million in July, according to the latest report from the Department of Labor. Job openings increased in finance, insurance and nondurable goods manufacturing, but decreased in retail trade, educational services and federal government.