Tech Rally Powers Wall Street Higher, Nasdaq Notches Record Close

Wall Street's three benchmark indexes rallied on Monday, led by broad gains in tech stocks, driving the Nasdaq to a record closing high as investors wager on the retention of solid economic growth, while declining oil prices affected the energy sector.

The Dow Jones Industrial Average edged up 178.48 points, or 0.72 percent, to 24,813.69. The S&P 500 rose by 12.25 points, or 0.45 percent, to 2,746.87.The Nasdaq Composite jumped 52.13 points, or 0.69 percent, to hit 7,606.46, a record closing high.

Apple shares climbed to their highest level in history due to investor expectations on its annual developers conference and Microsoft received nods for its latest acquisition, driving the S&P 500 technology index to a record high. Meanwhile, Amazon.com outperformed among consumer stocks. The S&P 500's technology sector was the benchmark index's biggest gainer, 0.8 percent higher.

According to traders, better-than-expected U.S. jobs data for ay was still a main factor to investor optimism as traders looked past recent trade war concerns.

Despite the impressive jobs report, markets are worried about the U.S. government's announcement last week of steel and aluminum tariffs for Europe, Canada and Mexico, which concluded a two-month exemption.

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