NASDAQ hits record high as tech giants surge

As gains in heavyweight tech stocks outweighed downbeat data, NASDAQ Composite Index ended at a record high, with the S&P 500 and Dow also rising on Thursday.

Gains in Apple Inc – the first U.S. company to boast a market value of $2 trillion – drove the main indices’ gains as investors bet they would ride out the economic crisis triggered by COVID-19.

Advertisement

The Dow Jones Industrial Average ended up 46.85 points to 27,739.73, the S&P 500 gained 0.32% to 3,385.51 and the tech-heavy NASDAQ Composite Index added 118.49 points to 11,264.95.

Meanwhile, shares of Tesla Inc inched 6.56% higher to $2,001.83 and Johnson & Johnson too rallied 0.68% to $151.42 Thursday, marking an all-around positive trading session for the stock market.