Technology Shares Surge as U.S. Stocks Pad Records: Markets Wrap

Nasdaq indexes rise to records, Dow average lags behind
Pound gains after the EU revives hopes of a Brexit deal

Tesla hasn’t gotten past Elon Musk’s self-inflicted wounds, according to James Albertine, at Consumer Edge Research.(Source: Bloomberg)

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By Jeremy Herron

August 28, 2018 at 9:53 PM UTC

Updated on

August 29, 2018 at 8:02 PM UTC

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U.S. stocks plowed to new records amid a broad rally in technology shares, as investors speculated the Trump administration will make progress this week on trade spats. Oil surged toward $70 a barrel.

The S&P 500 Index rose a fourth day to close above 2,900 for the first time, as Amazon.com and Alphabet climbed following an upbeat report from Morgan Stanley. The Nasdaq indexes hit fresh highs. The dollar weakened versus major peers, emerging-market equities edged higher and Treasuries slipped.