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Dow, S&P 500 close higher and Nasdaq jumps 1.7% to start the week as tech stocks rise along with gold

US equity benchmarks ended higher Monday, fueled by a rally in technology and e-commerce stocks ahead of biggies earnings, including Facebook FB,
+ 1.20%,
Apple AAPL,
+ 2.37%,
and Amazon.com AMZN,
+ 1.53%
in the next week. So far, those companies have helped lead the Nasdaq to new records and pushed the broader market higher as those companies have an oversized impact on the overall market due to their market capitalization. Large-cap technology and e-commerce companies are considered more resilient to the COVID-19 pandemic that has paralyzed many industries, including many travel and retail businesses. Tech’s rally is also because investors rose GC00 gold prices,
+ 1.81%
to a new settlement record and an intraday record of nearly $ 2,000 amid concerns over the spread of the viral pandemic and central banks and governments dishing out trillions to mitigate the economic damage from the pandemic. Against that background, the Dow Jones Industrial Average DJIA,
+ 0.43%
closed 115 points, or 0.4%, higher around 26,584, the S&P 500 index SPX,
+ 0.74%
ended 0.7% at around 3,239, while the technically charged Nasdaq Composite Index NDX,
+ 1.82%
closed 1.7% around 10,536 and the Nasdaq-100 NDX,
+ 1.82%,
consisting of the largest Nasdaq companies, closed 1.8% at 10,674, data from FactSet show. In economic news, the report on durable goods orders lasting at least three years rose 7.3% in June, the government said Monday. The Wall Street economist had expected an average profit of 7%.

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