Despite rates reaching levels not seen in more than ten years, the Nasdaq Composite rose on Monday, driven by tech shares.
The tech-heavy index rose 1.3%, which would be its largest one-day rise since July 28, when it increased 1.9%. It also had a good chance of ending a four-day losing streak. The Dow Jones Industrial Average fell 92 points, or 0.3%, as the S&P 500 rose 0.4%.
Nvidia surged 6% ahead of its earnings release on Wednesday, and Pablo Alto Networks rose 15% on profits that were greater than anticipated. Tesla and Meta both increased by 6% and 2%. The tech industry in the S&P 500 increased 1.8%.
Source (CNBC)
