Tech Firms Lead US Markets To A New High

Technology companies led US stocks higher on Tuesday, helping to lift the three major indexes to new highs.

The Nasdaq index rose 71.77 points, or more than 1%, to 6,862.48.

The Dow Jones Industrial Average rose 160.5 points, or 0.69%, to 23,590.8, while the S&P 500 climbed 16.89 points, or 0.65%, to 2,599.

The surge in firms such as Apple and Microsoft marked a continuation of a trend that has helped drive a market rally this year.

The S&P 500 technology index is up more than 38% since January, compared to about 18% for the S&P 500 generally.

On Tuesday, Apple shares increased 1.8%, while Microsoft ended 1.4% higher.

However, Campbell Soup shares fell 8% after the company cut its full-year profits forecast as its first quarter revenues fell short of expectations.

Chief executive Denise Morrison said her company had suffered a “difficult quarter”, with sales at its US soup business down 9%. Total sales declined 2% to $2.16bn (£1.63bn).

Shares in Signet Jewelers plunged more than 30%, after it said quarterly sales had fallen 2.5% to $1.2bn.

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