Technology stocks, ca technologies to rise in April
Technology stocks rose sharply in April to hit a new record high on Thursday, driven by gains in the semiconductor industry and high-tech businesses.
The S&P 500 rose 4.1% in the past three months, to a record high.
The index is up 7.2% year-to-date, which is the best performance since the Nasdaq Composite closed above 1,000 for the first time last month.
Tech stocks have rallied since the end of 2017, and now sit above the all-time high of 1,200, set on November 4, 2009.
The S&s are up 13% this year and 6% in 2018.
The gains have helped push the S&ams share prices higher, with investors buying into the technology sector, which has been hit hard by recent economic turmoil.
Investors have been betting on new technology innovations and higher wages, and the Semiconductor Information Industry Association (SiIA) expects semiconductor companies to post $6 billion in revenue this year, more than doubling their sales from 2016.
The average price of a stock in the SIC industry is up 17.6% this month.
The Nasdaq composite index, which tracks all of the world’s listed stocks, closed at 1,890.94, its highest level since June 2, 2001.
The Dow Jones Industrial Average is up 9.1%.
The S.&=&gt=M.S. index of technology companies is up 3.5% in April, while the S.=<=>=F.</A.
S=&rm= is up 0.7%.
The Dow has climbed more than 200 points since December, after rising more than 10% in 2017.