US stocks close higher as tech rebounds
iStock/Thinkstock(NEW YORK) — What tech sell-off? Stocks closed in the green on Monday with the Dow Jones Industrial Average reaching a new record.
The Dow jumped 144.71 (+0.68 percent) to finish at 21,528.99.
The Nasdaq gained 87.25 (+1.42 percent) to close at 6,239.01, while the S&P 500 finished at 2,453.46, up 20.31 (+0.83 percent) from its open.
Crude oil was more than 1 percent lower with prices at $44 per barrel.
Winners and Losers: Snapchat parent Snap Inc. climbed 2 percent on news of a $100 million deal with Time Warner to create shows for the platform. Snapchat will also have ads for HBO, Turner, and Warner Bros.
Shares of Costco sunk nearly 2 percent as the warehouse club continues to react to Amazon’s major deal with Whole Foods. Deutche Bank also downgraded the stock from buy to hold. Amazon’s stock was about 1 percent higher.
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