Tech Stocks Lead Gains as U.S. Markets Rise on Monday
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U.S. stock indices rose on Monday, led by tech stocks. The Nasdaq gained 1.19% while the S&P 500 and Dow rose 0.74% and 0.58%.
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The tech sector led gains with a 1.48% rise. Utilities fell 0.31%. The 10-year Treasury yield dipped to 4.42%.
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Jefferies strategist says the "Magnificent 7" megacap tech stocks have major influence, accounting for over 17% of the MSCI World Index.
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U.S. futures were down slightly Monday morning to start a shortened trading week, after stocks gained last week on cooling inflation.
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In Asia, Hong Kong's Hang Seng rose 1.86% while Japan's Nikkei fell 0.59%. China left key interest rates unchanged.