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Dow approaches 30K, S&P near day high as tech buying broadens the rally

- Like a racehorse that breaks late, the megacap sectors are gaining
ground on the leading cyclicals, pushing the broader market higher.
- The S&P (SP500) +1.1% is near its highs, while Nasdaq (COMP) +0.8% is
joining the part after starting in the red.
- The Dow (DJI) +1.5% has hit an all-time intraday high and is fewer
than 100 points below 30K. Boeing +7.4% is the big winner in the
price-weighted index, with Disney and Honeywell also providing boosts.
P&G
and Merck are the only losers.
- Pfizer -4% is among the biggest S&P decliners, retreating some from
its vaccine gains last week.
- Energy (NYSEARCA:XLE) +5.2% is still in the lead, now up 23% from its
close Nov. 6. It's expanded its gains from the morning, even as crude
futures +3.2% are easing off highs.
- The Fab 5 megacaps are gaining, led by Apple +1%. Amazon is the only
one in the red.
- Today, Oppenheimer warned investors not to count out tech just yet,
noting technology will be ubiquitous in a global economic recovery and
essential to growth in all 11 S&P sectors.





|Today, 11:38 AM