NASDAQ Sets New Record: Up 1.4%

Brian Mackey, Senior Research Analyst at Adviser Investments, has the market analysis for Thursday, July 12. Both the Dow Jones Industrial Average and the S&P 500 indexes rose 0.9%, and the NASDAQ Composite closed the day up 1.4%—setting a new record. Technology stocksA financial instrument giving the holder a proportion of the ownership and earnings of a company. fueled the gains, with the sector up nearly 2%. This is a reflection of investor optimism related to the ongoing absence of retaliatory trade dispute measures from China. Despite technology’s generally strong performance, semiconductor manufacturer Broadcom plunged 14% on news of its $18.9 billion acquisition of CA Technologies. Conversely, Papa John’s stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. rose about 10% following founder John Schnatter’s resignation as chairman.