US Stocks Climb With Alphabet, Apple Powering Tech Sector Higher
Traders on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThe S&P 500 Index posted its broadest daily advance since May as Alphabet Inc. and Apple Inc. lifted indexes, a signal of confidence amid persistent worries around Big Tech valuations.
The US equities benchmark gained 1%, with all 11 sectors in the green, while the tech-heavy Nasdaq 100 climbed 0.8%. The S&P 500 is still down about 3.5% this month after selling kicked in over the past week because of worries around AI valuations, pulling the gauge back from the record high it set in late October.