“U.S. stocks traded higher on Monday as technology stocks recovered from a wobbly performance last week,” Fred Imbert reports for CNBC. “The Dow Jones industrial average rose 121 points and hit a record, surpassing a previous all-time high of 21,391.97, which was set last week.”
“The S&P 500 gained 0.8 percent to also reach a record, with information technology rising 1.6 percent to lead advancers. The Nasdaq composite outperformed, rising 1.4 percent.,” Imbert reports. “Large-cap technology stocks like Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all traded higher. Amazon also hit an all-time high at the open.”
Imbert reports, “Several tech CEOs, including Amazon’s Jeff Bezos and Apple’s Tim Cook were slated to meet with President Donald Trump as the administration sets its sights on dramatic spending cuts.”
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MacDailyNews Take: AAPL remains spectacularly undervalued, as usual.
Apple leads Dow in tech stocks recovery – June 19, 2017