Stock market today: Rising tech stocks send Nasdaq to a record as most of Wall Street stumbles
Rising technology stocks sent the Nasdaq composite to a record, but trading was mixed along the rest of Wall Street
NEW YORK (AP) — Rallying technology stocks sent the Nasdaq composite to a record on Tuesday, but trading was mixed along the rest of Wall Street as homebuilders and Ford Motor sank following the latest profit reports.
The S&P 500 rose 0.2% to inch closer to its all-time high set earlier this month, even though most of the stocks in the index fell for the day.
Gains for influential Big Tech stocks helped mask weakness elsewhere, and they pushed the Nasdaq composite up 0.8% to top its last all-time high set in July. The Dow Jones Industrial Average, meanwhile, fell 154 points, or 0.4%.
Alphabet rose 1.8% ahead of its profit report that arrived after trading ended for the day. The parent company of Google is the latest member of the group of stocks known as the “Magnificent Seven” to report its quarterly results, and each will have to deliver big growth to justify their high prices.
