Tech Stocks Market Report: Records Stock Surge; Facebook, Apple, Twitter All Rise
The S&P 500 hit another record close Monday with tech stocks especially faring well.
Wall Street has seen green lately with the Christmas holiday approaching quickly.
"The U.S. economy seems to be on a steady path upward amid robust job reports and consistent industrial production gains. The unemployment rate has fallen below 6 percent for the first time since the recession. Also, falling commodity prices, specifically crude oil, are leaving more money in consumers' wallets, Bill Stone, chief investment strategist at PNC Asset Management, noted in emailed research to CNBC.
Gas prices nationwide are falling and so is the price of oil, leaving more buying power for consumers to buy things like electronics.
Apple (AAPL) shares were up over one percent to close the day at $112.94. The computer maker's shares fell as low as $106.75 on Dec. 16 before having a nice upward tick to the current level. Apple's 52-week high was $119.75 on Nov. 25 2014. If Apple has an excellent Christmas selling season, expect the company to surpass that mark.
Twitter (TWTR) shares finally saw an increase Monday. The stock has been on a downward trend ever since October. The company saw its shares hit $55.42 on Oct. 8 but it has been falling ever since then. On Dec. 16, shares of Twiter fell to $35.13. Monday, shares of Twitter were up $1.35 or 3.64 percent to close at $38.43.
Facebook (FB) shares were up almost two percent to close the day at $81.45. The social media giant hit another 52-week high during the trading day at $81.89. The company plans to release its next earnings report between Jan. 27 and Feb. 2 of 2015.
What do you think of these companies? Do you own any shares in them? Why or why not? Leave us a message below and let us know what you think.
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