Stocks Surge to Record With Aid Deluge Imminent: Markets Wrap

S&P 500, Dow Industrial average close at all-time highs
Tech stocks outperform; Nasdaq 100 Index rallies 2.4%

Ken Xu, founding partner and chief investment officer at Strategic Vision Investment Ltd., discusses his investment strategy, China’s growth target and where he’s finding opportunity.Source: Bloomberg

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By Jeremy Herron and Vildana Hajric

March 10, 2021 at 10:05 PM UTC

Updated on

March 11, 2021 at 9:03 PM UTC

This article is for subscribers only.

U.S. stocks jumped to an all-time high, powered by a renewed rally in tech shares as investors eye a $1.9 trillion spending injection from the federal government.

The S&P 500 reclaimed a record in a broad rally led by tech and consumer discretionary shares. The Nasdaq 100 Index surged more than 2.5% as it continued to rebound from a rout that had taken it 11% below its February record. Chipmakers paced the tech advance. Twitter Inc. jumped 5.7%, while Tesla Inc. continued its recovery. Korean e-commerce giant Coupang Inc. popped 41% in its market debut. Verizon Communications Inc. saw surging demand for its $25 billion debt sale.