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Aug. 30, 2021, 4:10 p.m. EDT

Tech stocks push S&P 500 record closes in 2021 to 53 and Nasdaq logs 32nd all-time high of the year

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By Mark Decambre

The S&P 500 and the Nasdaq Composite added to their record-setting pace of gains on Monday, driven by a rally in information technology stocks, but the Dow Jones Industrial Average lagged behind its equity benchmark peers. The S&P 500 /zigman2/quotes/210599714/realtime SPX -2.27% closed up 0.4% at around 4,529, establishing an intraday record high at 4,537.36, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -2.23% ended 0.9% higher at roughly 15,266, following its own intraday record on Monday at 15,288.08. The Dow closed down 56 points, or 0.2%, at about 35, 400, weighed by a decline in financials Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -2.45% , American Express Co. /zigman2/quotes/203805826/composite AXP -8.62% , as well as Boeing Co. /zigman2/quotes/208579720/composite BA -5.41% . Shares of technology firms provided a lift for the broader market and the tech-heavy Nasdaq, with gains in tech also aided by a decline in benchmarks bond yields. The 10-year Treasury note yields /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -9.87% around 1.284%, compared with 1.311% on Friday at 3 p.m. ET, Dow Jones Market Data show. Lower borrowing costs can give a boost to yield-sensitive areas of the market like tech but can weigh on financials because bank business models are underpinned by higher rates on the longer end of the so-called yield curve.

/zigman2/quotes/210599714/realtime
US : S&P US
4,594.62
-106.84 -2.27%
Volume: 2.10B
Nov. 26, 2021 2:12p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
15,491.66
-353.57 -2.23%
Volume: 3.05M
Nov. 26, 2021 4:14p
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 389.39
-9.80 -2.45%
Volume: 2.69M
Nov. 26, 2021 1:10p
P/E Ratio
6.42
Dividend Yield
2.05%
Market Cap
$130.37 billion
Rev. per Employee
$1.31M
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/zigman2/quotes/203805826/composite
US : U.S.: NYSE
$ 156.82
-14.79 -8.62%
Volume: 6.80M
Nov. 26, 2021 1:10p
P/E Ratio
16.40
Dividend Yield
1.10%
Market Cap
$121.47 billion
Rev. per Employee
$599,451
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/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 199.21
-11.39 -5.41%
Volume: 17.64M
Nov. 26, 2021 1:10p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$117.08 billion
Rev. per Employee
$412,489
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.48
-0.16 -9.87%
Volume: 0.00
Nov. 26, 2021 1:59p
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