Categories: Business

Booming stock market propels Dow to record close – but tech stocks are lagging with the Nasdaq is down 0.9%

U.S. stocks closed mixed on Monday as investors mulled over Federal Reserve Chair Jerome Powell’s speech from the Jackson Hole Economic Symposium and anticipated key events later in the week, including Nvidia Corp.’s earnings report on Wednesday and new inflation data on Friday.

The Dow Jones Industrial Average rose by 65.44 points, or 0.2%, finishing at a record high of 41,240.52. This marks the 23rd record close for the index this year, according to Dow Jones Market Data.

In contrast, the S&P 500 declined by 17.77 points, or 0.3%, ending at 5,616.84.

The Nasdaq Composite dropped 152.03 points, or 0.9%, to close at 17,725.76.

Herbert Bauernebel

Herbert Bauernebel has been reporting from New York since 1999 and currently works for Bild.de, OE24 TV, and US Live. He also runs the news portal AmerikaReport.de. Bauernebel has covered nearly all major US events of the past quarter-century, including 9/11, Hurricane Katrina, Barack Obama’s election, Donald Trump’s surprise victory, the pandemic, last year’s election showdown, as well as natural disasters such as hurricanes and oil spills. He has also reported firsthand on international events, including the Asian tsunami, the Haiti earthquake, and the Fukushima disaster. He lives in Brooklyn with his family and holds degrees in communication and political science from the University of Vienna. Bauernebel is the author of a book about his experiences on 9/11, And the Air Was Full of Ash: 9/11 – The Day That Changed My Life.

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Herbert Bauernebel

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