Stock market lifted by mega-cap tech 10-Feb-20 16:15 ETDow +174.31 at 29276.73, Nasdaq +107.88 at 9628.41, S&P +24.38 at 3352.09 [BRIEFING.COM] The stock market finished strong on Monday, with shares of mega-cap technology companies propelling the S&P 500 (+0.7%) and Nasdaq Composite (+1.1%) to new closing records. The Dow Jones Industrial Average (+0.6%) and Russell 2000 (+0.7%) performed in-line with the S&P 500. Three names largely behind today's advance were Amazon ($AMZN 2133.91, +54.63, +2.6%), Microsoft ($MSFT 188.70, +4.81, +2.6%), and Alphabet ($GOOG1508.68, +29.45, +2.0%), which each rose at least 2.0%. Investors presumably remained assured that these tech giants offered a good mix of growth and safety, especially amid the coronavirus outbreak. In turn, the consumer discretionary (+1.3%) and information technology (+1.4%) sectors were among the sector leaders, as well as the defensive-oriented real estate sector (+1.2%). The energy sector (-0.8%) continued to underperform, as WTI crude ($49.57/BBL, -0.78, -1.6%) fell back below $50/BBL amid lingering concerns about end-demand due to the coronavirus. Advanced Micro Devices ($AMD 52.26, +2.53, +5.1%) outperformed following a speculative report that Apple ($AAPL 321.55, +1.52, +0.5%) could use its chips instead of Intel's ($INTC 66.39, +0.37, +0.6%) in future Macs. IBM ($IBM 154.43, +1.02, +0.7%) will reportedly deploy Slack's ($WORK 26.57, +3.58, +15.6%) platform for all its employees. In M&A activity, Taubman Centers ($TCO 53.12, +18.45, +53.2%) agreed to be acquired by Simon Property ($SPG 143.06, +2.04, +1.5%) for $52.50/SHARE in cash. Xerox ($XRX 37.69, +0.52, +1.4%) increased its offer to acquire HP Inc. ($HPQ 21.90, +0.17, +0.8%) by $2.00 to $24.00/SHARE in cash and stock. U.S. Treasuries posted modest gains, pushing yields lower across the curve. The 2-yr yield declined one basis point to 1.38%, and the 10-yr yield declined three basis points to 1.55%. The U.S. Dollar Index increased 0.2% to 98.85. Investors did not receive any notable economic data on Monday. Looking ahead, the NFIB Small Business Optimism Index for January and the JOLTS - Job Openings report for December will be released on Tuesday. Nasdaq Composite +7.3% YTDS&P 500 +3.8% YTDDow Jones Industrial Average +2.6% YTDRussell 2000 -0.1% YTD Market Snapshot Dow29276.73+174.31(0.60%)Nasdaq9628.41+107.88(1.13%)SP 5003352.09+24.38(0.73%)10-yr Note +2/321.565NYSEAdv 1694 Dec 1181 Vol 846.6 mlnNasdaqAdv 1952 Dec 1238 Vol 2.2 bln Industry Watch Strong: Consumer Discretionary, Information Technology, Real EstateWeak: Energy Moving the Market -- S&P 500 and Nasdaq close at new highs -- Stock market finishes strong, thanks to strength in the mega-cap technology -- Continued weakness in energy stocks amid another decline in oil prices Source: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.