Wall Street surges; Dow Jones reaches new high

US stock indexes follow global markets higher, led by tech

US stocks rose on Monday, with the S&P 500 and the Dow hitting record highs with growth sectors such as technology in favor again as investors appeared to regain confidence in the economy after upbeat comments from Federal Reserve officials.

The Nasdaq and the S&P 500 are also higher, up 58 points to 6,210 and 11 points to 2,444, respectively.

The tech sector saw a substantial bounce Monday, with the S&P 500 information technology sector closing 1.66 percent higher for its best day of the year.

U.S. crude is up 0.22% to $44.85, while the TSX Index in Toronto is up over 73 points at 15,265.

Apple (AAPL.O) rose 2.9 percent to $146.34, providing the biggest boost to the S&P followed by JPMorgan Chase (JPM.N), which rose 2.2 percent to $88.07.

Last month, the US economy added 138,000 jobs, well below the expected gain of 185,000, while other data showed a fall in retail sales and inflation below the Fed's target of 2 percent.




Among individual stocks, shares of Clovis Oncology (CLVS) are moving sharply higher in pre-market trading after the biopharmaceutical company announced positive late-stage trial data for its ovarian cancer drug.

Trading activity was somewhat subdued, however, as a lack of major USA economic data kept some traders on the sidelines. Microsoft MSFT.O and Alphabet GOOGL.O were also up.

The Standard & Poor's 500 index rose 16 points, or 0.7 percent, to 2,450.

Dow e-minis were up 71 points, or 0.33 percent, with 25,503 contracts changing hands at 8:42 a.m. ET (1242 GMT).

Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent. The widespread market gains were aided by the tech sector, with Amazon stock building off its recent momentum by shooting to an all-time high. Bank of America gained 1.4 percent.

The Dow Jones Industrial Average has reached a record high, rising 70 points to 21,454 on the back of a rally in tech shares, and as global equities move higher.

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