Dow Trades in Record Territory as Stock Market Kicks Off July Action

Up, up, and away!

The Dow Jones Industrial Average hit a fresh record Monday, on the back of a rally in energy and financials, but tech shares lagged behind as investors kicked off trading in July.

Gains accelerated in an abbreviated session ahead of the Fourth of July holiday on Tuesday, after an upbeat report on manufacturing.

The Dow Jones Industrial Average hit a fresh record Monday, on the back of a rally in energy and financials, but tech shares lagged behind as investors kicked off trading in July.

Gains accelerated in an abbreviated session ahead of the Fourth of July holiday on Tuesday, after an upbeat report on manufacturing.

Meanwhile, the Dow Jones Transportation Average DJT, +1.18%  also touched an intraday record of 9,666.71 during the session, marking the indicator’s first all-time high since March 1. Market technicians consider records in the transports benchmark and the Dow at the same time as a bullish sign of Wall Street health.

Lagging behind the benchmarks, however, was the Nasdaq Composite IndexCOMP, -0.19% down 23 points, or 0.4%, at 6,116, after trading modestly higher, earlier in the session. The tech sector has been among the more volatile segments of the market after reaching a number of popular stocks, including Amazon.com IncAMZN, -1.01%  in early June hit records, raising concerns that valuations in tech were getting rich.

Full story at MarketWatch

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