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US stocks rise as tech sector leads
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IANS | 04 Aug, 2020
US stocks ended higher, bolstered by strong gains in big tech names.
On
Monday, the Dow Jones Industrial Average rose 236.08 points, or 0.89
per cent, to 26,664.40. The S&P 500 was up 23.49 points, or 0.72 per
cent, to 3,294.61. The Nasdaq Composite Index increased 157.52 points,
or 1.47 per cent, to 10,902.80, Xinhua news agency reported.
Shares of Microsoft soared 5.62 per cent, leading the gainers in the Dow.
Apple
shares finished 2.52 per cent higher, after surging more than 10
percent on Friday. The company reported earnings results late Thursday
that easily topped forecasts.
Of the 11 primary S&P 500
sectors, technology advanced 2.49 per cent, outpacing the rest. Real
estate, however, slipped 1.47 per cent, the worst-performing group.
Meanwhile,
US-listed Chinese companies traded roughly higher, with all the top 10
stocks by weight in the S&P US Listed China 50 index ending the day
on an upbeat note.
On the data front, economic activity in the US
manufacturing sector grew in July, with new orders and production
driving much of the strength, according to the Institute for Supply
Management (ISM) on Monday.
US manufacturing PMI (Purchasing
Managers' Index) registered 54.2 per cent in July, up 1.6 percentage
points from the June reading of 52.6 per cent, the ISM reported.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 25 Sep, 2020 |
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