More blowout profit reports from big tech companies pushed the S&P 500 to an all-time high Wednesday. Technology stocks accounted for the lion’s share of the gains, outweighing losses in health care, utilities, energy and other sectors. The S&P 500 has been notching record highs this month, adding to its remarkable turnaround this year from a nearly 34 percent skid this spring as the pandemic ravaged the economy. The S&P 500 gained by 35.11 points at 3,478.73. The Nasdaq composite, which is heavily weighted with technology stocks, climbed by 198.59 points, or 1.7 percent, at 11,665.06, its third-straight record high.

Source: The Standard August 27, 2020 01:30 UTC