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New high for the NASDAQ index is traders pile into tech shares | investingLive

The NASDAQ index has continued to run with a gain of 197 points or 0.90% to 22339. The high price reached 22340.91.

Leading the charge is Tesla which is up 6.45% after Elon Musk purchased about $1 billion of the stock. Other notable gainers include:

  • Tesla +6.45% – surging after reports Elon Musk purchased about $1B in Tesla stock, fueling strong bullish momentum.

  • Chewy +5.42% – rallying on optimism for continued demand growth in online pet supplies.

  • ASML ADR +5.37% – boosted by strong semiconductor sector momentum and robust chip equipment demand.

  • Western Digital +5.24% – rising as memory chip recovery prospects improve.

  • Roblox +4.55% – higher on sustained growth expectations in gaming and metaverse engagement.

  • Tapestry +4.34% – gaining on strong consumer discretionary flows and luxury retail optimism.

  • Intel +4.05% – lifted by chip sector strength and AI-related tailwinds.

  • Alphabet A +3.65% – moving up on steady ad revenue momentum and AI growth story.

  • Oracle +3.28% – advancing after upbeat sentiment around its cloud and AI-driven enterprise services.

  • GameStop Corp +3.07% – climbing as retail interest remains elevated in meme-related stocks.

  • Snowflake +2.76% – edging higher with continued confidence in data and AI-related demand.

  • Snap +2.66% – modestly higher on improving advertising sentiment.

  • Stellantis NV +2.64% – ticking up as global auto demand and EV outlook provide support.

  • CrowdStrike Holdings +2.31% – advancing on strong cybersecurity sector momentum.

The S&P index is up 31 points or 0.47% at 6614.69. Its shares reached a high of 6619.62 earlier in the session but has not followed the NASDAQ to new records since. Nevertheless, the index is on pace for a new record close.

The Dow industrial average is not very as well with a decline of -48 points or -0.11% and 45787.66.. Amgen, McDonald’s, Sherwin-Williams, and 3M are contributing to the downside in the Dow 30.

The small-cap Russell 2000 is up 7.69 points or 0.32% at 2404.73.