S&P 500, Nasdaq Reach Record Highs

Published September 2nd, 2020 - 12:30 GMT
S&P 500, Nasdaq Reach Record Highs
Netflix stock rose 5.1%, while Google's parent company, Alphabet, increased 1.57% and Walmart stock gained 6.29%. (Shutterstock)
Highlights
The S&P 500 and Nasdaq Composite hit new all-time highs on Tuesday while the Dow Jones Industrial Average gained 215 points to begin September
The S&P 500 and Nasdaq Composite rose to record highs on Tuesday to begin the month of September.


The S&P 500 gained 0.75% to close at 3,526.65 and the Nasdaq grew 1.39% to 11,939.67 as tech stocks surged Monday. The Dow Jones Industrial Average ended the day up 215.61 points, or 0.76%, after notching its best August performance since 1984.

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Zoom video stock skyrocketed 40.78% after reporting that revenue grew 355% on an annualized basis in the fiscal second quarter.

Apple grew 3.98% after helping to lead the Nasdaq higher on Monday following a stock split, while Tesla stock dropped 4.67% after a regulatory filing showed the company would sell up to $5 billion of its own stock a day after gaining 12.57% following its own stock split.

Netflix stock rose 5.1%, while Google's parent company, Alphabet, increased 1.57% and Walmart stock gained 6.29%.

Stocks related to the lifting of restrictions related to the COVID-19 pandemic performed well in August amid optimism surrounding a vaccine and treatment for the virus.

Royal Caribbean and MGM rose 40% in the month, while Fed Ex and Gap increased 30%.


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