Big Tech Drives S&P 500 to 66th Record This Year: Markets Wrap
- Apple is pushing to accelerate development of its electric car
- Macy’s and Kohl’s surge as retailers signal consumer strength
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Technology stocks drove the equity market to a record in a volatile session ahead of Friday’s options expiration.
The S&P 500 notched its 66th all-time high of 2021, with the benchmark gauge poised for the second-biggest number of annual records ever -- only behind 1995. The tech-heavy Nasdaq 100 outperformed as giant chipmaker Nvidia Corp. boosted its outlook, while Apple Inc. jumped after Bloomberg News reported the company is pushing to accelerate the development of its electric car. Macy’s Inc. and Kohl’s Corp. paced gains in retailers after signaling consumer demand remains robust.