Nasdaq Ends At Record On Resurgence Of Tech Shares

The Nasdaq led the market, winning 1.0 percent to close the session at 14,500, easily topping its prior record.

The S&P 500 gained 0.2 percent to end at 4,290, its third straight all-time high, but the Dow Jones dropped 0.4 percent to 34,283.

"Technology has come back into vogue," Art Hogan, chief strategist at National Securities, said of the Nasdaq's recent strength after the tech industry underperformed the broader market early in 2021.

Meanwhile, the yield on the 10-year US Treasury note fell once again, suggesting the market's diminishing worry over inflation.

Large technology shares rose, led by Facebook, which jumped 4.2 percent causing its market capitalisation topped US$1 trillion after a US court dismissed a federal agency's antitrust complaint against the social media giant.

Apple, Amazon and Netflix all won more than one percent.

Boeing was the biggest loser in the Dow, slumping 3.4 percent after US air safety regulators formally pushed back the timeframe for approving its 777X jet.

The Federal Aviation Administration told Boeing the jet is "not yet ready" to advance to the next stage of evaluation.

Boeing customers such as American Airlines and United Airlines also had a bad day, along with other travel-related companies such as Marriott International, Expedia and Carnival. All lost more than two percent.

In addition to worries about the Delta variant of the coronavirus, which could limit travel just as it was starting to return to normal, the pullback also reflects profit-taking in a sector that had seen big gains earlier in 2021. (AFP)