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Technology stocks boost Wall Street to record highs

Seven of the 11 major S&P sectors were higher on the day, led by 0.51% gain in the technology index

Sruthi Shankar | Reuters 

A surge in technology stocks sent the major Wall Street indexes to record highs on Friday, but a drop in health insurers kept the rally in check, while banks were little changed after mixed reports from Bank of America and Wells Fargo. Bank of America, the second-biggest US bank by assets, rose 1.10 per cent after the lender’s profit topped estimates due to higher interest rates and a drop in costs. But Wells Fargo tumbled more than three per cent, set for its biggest drop since mid-April, after reporting lower-than-expected revenue for the fourth straight quarter due ...

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First Published: Sat, October 14 2017. 01:12 IST
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