By STAN CHOE and ALEX VEIGA, AP Business Writers
Stocks are pushing higher on Wall Street in afternoon trading Monday and tacking more gains onto last week’s market rally, its best in three months.
The S&P 500 was 1.8% higher, following up on strengthening in stock markets around the world. The Dow Jones Industrial Average was up 308 points, or 1.1%, at 28,895, as of 12:35 p.m. Eastern time, and the Nasdaq composite was 2.6% higher.
The gains are being driven mostly by Big Tech stocks, whose businesses have proven to be practically impervious to the pandemic, rather than companies that would benefit from a strengthening economy.
Apple climbed 5.4% and alone accounted for nearly a quarter of the S&P 500’s rise. Amazon gained 5.1%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime