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Tech companies, retailers lead US stocks higher | KRVN Radio

Tech companies, retailers lead US stocks higher


(NEW YORK) — Wall Street closed in the green ahead of the holiday week.

The Dow Jones Industrial Average climbed 72.09 (+0.31 percent) to finish at 23,430.33.

The Nasdaq gained 7.92 (+0.12 percent) to close at 6,790.71, while the S&P 500 finished at 2,582.14, up 3.29 (+0.13 percent) from its open.

Crude oil prices sunk about 0.5 percent to $56 per barrel.

Winners and Losers: Marvell Technology has agreed to buy a smaller, rival chipmaker Cavium for about $6 billion. Cavium’s shares jumped 10.80 percent.

Shares of Abercrombie & Fitch continued to rally after posting third-quarter same-store sales growth on Friday and an upbeat forecast for the holidays. The retailer’s stock soared 9.58 percent.

More losses for General Electric; shares tumbled 1.26 percent on Monday.

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