The stock market’s rally Wednesday morning was driven by Big Tech and not much else.
The Nasdaq Composite was up 1%, while the S&P 500 was up 0.4%. The Dow, which doesn’t have as much exposure to large tech stocks as the former two indexes, was down 144 points, or 0.3%.
All of the Magnificent Seven megacap technology stocks were rising, with Alphabet and Apple leading the way with gains of 8.7% and 2.6%, respectively. Remedies in the Google antitrust case were viewed mostly favorably by investors in large tech firms.
