S&P 500, Nasdaq hit record highs as taper fears calm; tech stocks jump

Energy shares track weaker oil prices lower; S&P 500 tracks longest monthly winning streak since 2018

The S&P 500 and Nasdaq hit record highs on Monday as dovish remarks from Federal Reserve chief last week bolstered optimism in an economic rebound and eased fears of a sudden tapering in monetary stimulus.
 

Apple Inc, Microsoft Corp, Amazon.com, Google-owner Alphabet Inc and Nvidia rose between 0.6% and 1.3%, helping the tech-heavy Nasdaq outperform the S&P 500 and the Dow.

High-growth tech stocks tend to benefit from expectations of lower rates because their value rests heavily on future earnings.
 

The benchmark S&P 500 is tracking its longest monthly winning streak since 2018 on the promise of easy money, with investors