Wall Street Ends Up as Tech Stocks Rebound From Early Losses Due to Fears of Iran Conflict

NEW YORK (Sputnik) – Share prices on Wall Street closed up on Monday as a rebound in technology stocks helped the market recoup early losses sparked by sabre-rattling between the United States and Iran.

The top US stocks barometer, the S&P500, closed up 0.3 percent at 3,246, after opening down 0.6 percent in fallout to the US-Iran conflict.

The technology-heavy Nasdaq Composite Index rose 0.6 percent to close at 9,071, after falling as much earlier. Stock traders said much of Wall Street rebounded on Monday due to the performance of key Nasdaq stocks such as Google’s parent company Alphabet, Amazon and Facebook.

The Nasdaq hit a record high of 9,093 at its 2020 debut. The technology sector was the darling of Wall Street investors last year, lifting the Nasdaq by 36 percent for the index’s best performance in six years.

The Dow Jones Industrial Average closed up 0.2 percent at 28,704. It fell as much 0.5 percent at Monday’s open. The Dow also hit an all-time high on the first session of the year, rising to of 28,873.

The Dow closed 2019 trading up 23 percent for its best performance in two years.

Sourse: sputniknews.com