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Nasdaq hits record high for the second day, boosted by Netflix and Amazon

Published: 16:09 05 Jun 2018 EDT

Wall Street

The U.S. benchmarks ended the day on a mixed note.

The tech-heavy Nasdaq hit a record high for the second day, boosted by Netflix Inc (NASDAQ:NFLX) and Amazon.com Inc (NASDAQ:AMZN).

The Dow Jones Industrial Average fell more than 10 points.

The S&P 500 saw minimal gains of about 2 points after replacing Monsanto Company (NYSE:MON) with Twitter Inc (NYSE:TWTR).

Up north, the TSX saw a more than 60-point jump after copper prices hit a six-week high.

The Russell 2000 small-cap index saw modest gains. Quanex Building Products Corporation (NYSE:NX) and Coupa Software Inc (NASDAQ:COUP) were two strong gainers on the index.

3:10 PM: Nasdaq hits fresh intraday peak spurred on by Apple, Twitter and Mylan

The S&P 500 and the small cap Russell 2000 both gathered steam Tuesday afternoon, while the tech-centric Nasdaq secured an intraday all-time high, underscoring a resurgence in the high-octane technology sector.

On the other hand, the Dow Jones Industrial Average, was down 12.69 points, or 0.05%, to 24,801 with financials and consumer-staple stocks weighing on the broad-market index.

The tech-heavy Nasdaq climbed 26 points to 7,632, on track for its third straight up day, after touching an intrasession record at 7,644.48, marking its first such record since March 13, according to FactSet data.

Tech stocks hit a record high on Tuesday spurred on by an all-time peak for Apple, and news that Twitter was set to join Wall Street’s flagship S&P 500 index and Netflix to join the S&P 100.

The small-capitalization oriented Russell 2000 index logged a gain of 9 points, or 0.54% to 1,662.

10:AM: Nasdaq opens higher while other US indices stay flat in early trade

The Nasdaq broke away from the pack to add to yesterday’s gains and trade higher at the opening bell on Tuesday.

Early in the trading session, the tech-heavy index climbed 36 points to 7,642, led by the drug maker Mylan (NASDAQ:MYL), which saw its shares jump 7% on the Food and Drug Administration’s approval of Fulphila, which cuts the risk of infection in cancer treatments.

A more modest gain was recorded by the Dow Jones Industrial Average index, which added 21 points to trade at 24,834, led higher by DowDuPont, Apple and Boeing. The S&P 500, meanwhile, clung to the line, climbing just under 5 points to hover at 2,751.

Elsewhere, Canada’s TSX index showed signs of strength and gained 77 points to 1,6129 while the Russell 2000 index of small-cap stocks jumped almost 6 points to 1,659.

The Nasdaq is on a tear as it finished 0.7% higher on Monday after shares of Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) reached new all-time highs. In early trade today, Apple shares were up 1% at US$193.66 while Amazon rose 1.1% to US$1,683.24.

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