Stocks Rise on Tech Advance; Gold and Oil Climb: Markets Wrap

Investors bet on economic reopening and central bank support
California sees record new virus cases, Florida infections up

Jun Bei Liu, portfolio manager at Tribeca Investment Partners, discusses the outlook for stock and bond markets.Daybreak: Asia.” (Source: Bloomberg)

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By Sarah Ponczek and Jeremy Herron

June 21, 2020 at 8:57 PM UTC

Updated on

June 22, 2020 at 8:00 PM UTC

This article is for subscribers only.

U.S. stocks rose, with technology leading the advance, as investors continued to bet on companies with strong balance sheets and better prospects in an economy where work-from-home remains part of the norm.

The Nasdaq 100 jumped more than 1%, with Adobe, Amazon.com and Square ending at all-time highs. The Nasdaq Composite capped a seventh straight advance in its longest rally of the year. The S&P 500 lagged behind, with some sectors under pressure as investors weighed the economic impact of virus flareups in some states.