S&P 500 closes near records, despite tech losses

Most of the US stock indices rose on Monday, lifted by President Donald Trump’s decision to ease the coronavirus impact, but Nasdaq was weighed down by to weak tech stocks.

President Donald Trump signed an executive order to extend the supplemental federal unemployment benefits to those who lost their jobs due to the coronavirus crisis, but with $400 per week, down from $600.

The US Labor Department released its reading for the non-farm employment change index, as the economy has added around 1.8 million jobs in July, higher than forecasts of 1.530 million, and the unemployment rate fell to 10.2% vs. 11.1%.

Members of the Federal Reserve warned from a second wave of the coronavirus and its severe economic impact, and urged for more tight lockdown restrictions and social distancing.

To the oil market, WTI crude September futures rose 1.8% or 72 cents, to close at $41.94 a barrel, after it hit a high of $42.3 and a low of $41.1.

Brent October futures rose 1.3% to $44.99 a barrel, with a high of $45.2 and a low of $44.3.

As for stocks, Dow Jones rose 1.3% or 358 points to settle at 27,791, with a day high of 27,804 and a low of 27,488.

S&P 500 rose 0.3% or 9 points to close at 3,360, with a high of 3,363 and a low of 3,335.

Nasdaq fell 0.4% or 42 points to 10,968 , after it hit a high of 11,040 and a low of 10,849.