Tech Stocks Fuel S&P 500’s Resilient Advance Amid Political Uncertainty

The S&P 500 extended its gains for a second consecutive session, closing at 6,643.70 points. Demonstrating notable resilience, the benchmark index advanced despite political uncertainties emanating from Washington, propelled primarily by a technology sector rally on moderate trading volume. Market volatility remained contained, with the VIX fluctuating between 15.74 and 16.29 points.

Technology shares emerged as the clear engine behind the market’s upward move. Robinhood Markets surged more than 12% following optimistic commentary from its CEO regarding prediction markets. Western Digital enjoyed a 9.2% climb after analysts upgraded their ratings, while Coinbase Global capitalized on the cryptocurrency rally to post a 6.8% gain. AppLovin reached a record high, and Nvidia closed with a solid 2% increase.

However, the positive sentiment failed to spread across... Read more...