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There are new records on Wall Street.  Facebook is worth over 1 billion after judge's decision - Stock Exchange

There are new records on Wall Street. Facebook is worth over 1 billion after judge’s decision – Stock Exchange

The Dow Jones index ended the session this Monday with a return of 0.44% to settle at 3,4283.27 points, failing to keep pace with the gains of its major peers.

The Standard & Poor’s 500 Index rose 0.23% to 4,290.61 points, which is a record closing price. In daily trading, it reached an all-time high, at 4,292.14 points, mainly due to renewed confidence in the country’s economic recovery and fiscal stimulus.

For its part, the Nasdaq Technology Composite Index valued 0.98% to 14,500.51 points, after it reached during the session to record 14,505.19 points.

Leading the Nasdaq and Standard & Poor’s 500 indexes like Microsoft, Apple and Nvidia is listed, as technology-related listed companies continue to post gains at a time when interest rates remain low.

Facebook featured in the gains after a US judge ruled in favor of the company led by Mark Zuckerberg in a lawsuit brought by the US Federal Trade Commission (FTC) in an antitrust lawsuit. The judge dismissed the FTC’s action and ruled that an amended complaint must be filed by July 29.

The result: the popular social network owner ramped up the highs and her market cap crossed $1 billion. Facebook ended up adding 4.18% to $355.64, with a market capitalization of $1.1 billion.

On the downside, cyclical sectors stood out, due to concerns surrounding a strong increase in coronavirus cases in Asia. The financial, energy and airline sectors fell between 0.9% and 3.3%.

“We are approaching the end of the quarter and investors may want to take capital gains and give up their energy to stay in the technologies that have been the winners,” CFRA strategist Sam Stovall told Reuters.

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Investors are eagerly awaiting the release of the labor market numbers for June, which will be known as early as next Friday.