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S&P 500 Reaches Record High Above 4,000 As Tech Stocks Extend Rally

(RTTNews) - With technology stocks leading the way higher once again, stocks are adding to yesterday's gains in morning trading on Thursday. The continued upward move has lifted the S&P 500 to a new record intraday high above 4,000.

Currently, the Nasdaq is up 219.27 points or 1.7 percent at 13,466.14 and the S&P 500 is up 31.03 points or 0.8 percent at 4,003.92.

The narrower Dow is once again underperforming its counterparts but is currently up 66.38 points or 0.2 percent at 33,047.93.

The extended rally by technology stocks, as reflected by the jump by the tech-heavy Nasdaq, is partly in reaction to upbeat news out of the semiconductor sector.

Shares of Micron Technology (MU) has surged up by 5.5 percent after the chipmaker reported better than expected fiscal second quarter results and provided upbeat guidance for the current quarter.
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