TORONTO - The continued strength of the tech sector propelled US equity markets higher at the start of trading in August after the best four months in a decade ended.
The S&P 500 reached its highest level since February, while the Nasdaq compound set another all-time record.
In New York, the Dow Jones Industrial Average closed at 236.08 points at 26,664.40. The S&P 500 Index gained 23.49 points to hit 3,294.61 after hitting an intraday high of 3,302.73. Nasdaq rose 157.52 points to 10,902.80 after hitting a record 10,927.56 in previous trades.
The three factors that fueled the markets on Monday were the boost in technology after last week's gains, a further surge in manufacturing activity in the US and Europe and hopes that US lawmakers will accept another round of tax reli...