Tech Stocks Power S&P 500 to Record Close After GDP Surprise
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThe S&P 500 Index closed at a record Tuesday as gains in technology stocks offset investor concerns about strong US economic growth potentially delaying interest-rate cuts.
The S&P 500 Index rose for a fourth-straight session, climbing 0.5% to notch its first record since Dec. 11, as gains in mega-cap tech stocks, including Nvidia Corp., Broadcom Inc. and Google-parent Alphabet Inc., outweighed weakness in the health-care and consumer staples sectors. The breadth of the gains was narrow, with an equal-weight version of the index falling 0.3%.