Stocks rise as tech rallies amid falling yields, Nasdaq closes more than 1% higher

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U.S. stocks jumped on Monday led by technology shares as investors flocked back into growth names amid falling bond yields. The Dow inched up 0.31%. The S&P 500 rose 0.70%. The Nasdaq surged 1.23%.

U.S. stocks jumped on Monday led by technology shares as investors flocked back into growth names amid declining bond yields.

Shares of Tesla added 2.3% as rates fell and as Cathie Wood's Ark Invest put out a new price target on the stock which calls for it to. Apple, Microsoft and Netflix all gained at least 2%, while Amazon and Facebook climbed more than 1% each. "After the reopening exuberance fades and interest rates level off, investors will rotate back into large cap technology stocks with strong free cash flow, recurring revenues and increasing user penetration," said Richard Saperstein, chief investment officer at Treasury Partners.President Joe Biden is eyeing an infrastructure deal with as much as $3 trillion spending to boost the economy.

Still, optimism about the markets and the economic recovery has been growing as vaccines roll out across the country, with the pace of Americans getting shots climbing in recent weeks.showed the Covid vaccine developed by AstraZeneca and the University of Oxford is 79% effective in preventing symptomatic illness and 100% effective against severe disease and hospitalization.

 

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