Wall Street at new highs as tech breaches dot-com era record

The major US stock indexes closed at record highs on Wednesday helped partly by technology stocks, which surpassed a long-standing mark, despite gains on the Dow being capped by a sharp drop in IBM shares.

 

The S&P 500 tech sector broke its previous record closing high that had held since March 2000 in the midst of the dot-com and Y2K tech stocks bubble. It has been the best-performing sector this year with a 22.8 percent advance.

Vertex jumped as much as 26.4 percent to an all-time high of $167, a day after it reported positive results for its cystic fibrosis treatment. The stock ended up 20.8 percent at $159.69 and was the biggest boost on the S&P and the Nasdaq.

 

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