New York: The Nasdaq rose to a record high on Monday, driven by demand for technology stocks, while the Dow fell following a four-day winning streak
Nasdaq rose 0.4%, as a few of its biggest constituents, including Apple Inc, Facebook Inc and Tesla Inc, also called the stay-at-home champs, picked up between 1.4% and 4.7%.
The administration in California, the most crowded state in the US, on Monday constrained a significant part of the state to close shop and remain at home a day after it announced a record 30,000 or more new Covid cases.
The S&P 500 energy index fell over 1.6% as oil costs slipped. Oil firms Chevron Corp, Exxon Mobil Corp and Occidental Petroleum Corp fell somewhere in the range of 1.0% and 2.5%.
At 12.17pm ET, the Dow Jones Industrial Average was down 134.44 points, or 0.44%, at 30,083.82, the S&P 500 was down 5.86 points, or 0.16%, at 3,693.26.
Intel Corp fell 4.4% and was the top loser on the S&P 500 after Bloomberg reported that Apple Inc was arranging a progression of new Mac processors for presentation ahead of schedule in 2021 that could beat Intel’s quickest processors.