Stocks and tech sector rally, recovering from last week’s losses

All three major averages closed higher on Monday after digesting news that President Biden would withdraw from the 2024 election and preparing for a big earnings report this week. The Nasdaq Composite (^IXIC) rose more than 1.5% — or 280 points — while the S&P 500 (^GSPC) gained more than 1% as the indexes rebounded from last week’s turbulent trading.

Julie Hyman and Jared Blikre compare traditional market averages to the performance of the S&P 500 Equal Weight Index (^SPXEW) and the Russell 2000 small-cap index (^RUT), with a focus on technology stocks in the Nasdaq 100 Index (^NDX).

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This post was written by Luke Carberry Mogan.