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Barchart
Barchart
Rich Asplund

Stocks Close Higher as Megacap Tech Stocks Climb

United States Musalem ECB St. Louis Fed US Federal Reserve New York Fed Oil

The S&P 500 Index ($SPX) (SPY) Tuesday closed up by +0.97%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +1.55%.

Stocks Tuesday settled moderately higher, with the Nasdaq 100 posting a 1-week high.  Strength in megacap technology stocks Tuesday propelled the overall market higher. Stocks also rose on upbeat comments from New York Fed President Williams, who said the Fed is "well positioned" to pull off a soft landing for the US economy.  In addition, Tuesday’s news that the US Aug trade deficit fell to a 5-month low was a positive factor for US Q3 GDP. 

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