S&P 500 Extends Gains, Bolstered by Technology and Materials Companies
Aug, 22nd 16:29
U.S. shares advanced on Tuesday with the stock benchmark S&P 500 index climbing a second day. While copper rose to a three-year high that helped materials companies lead the market, the absence of major news from the White House on the tensions between the United States and North Korea helped calm nerves.
The S&P 500 jumped nearly 0.8% to trade at 2443.00, led by a bounce in technology and materials companies. Nine of the 11 primary S&P 500 sectors rose on the day with the biggest gainers were material as copper futures for September delivery added 0.75% to trade at $3.002 a pound on the Comex division of the New York Mercantile Exchange.
The metal advanced 1.4% in the previous session and extended its rally to hit its highest level since November 2014. Technology sector was the second biggest gainer, adding 1.2%.
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