Wall St higher at the open; Dow hits record high

Traders work on the floor of the New York Stock Exchange

Traders work on the floor of the New York Stock Exchange

"Investors were temporarily chased from the space but many companies in the sector offer growth which is hard to find in the market as a whole."Apple (AAPL.O) rose 3.8 percent to $146.07, providing the biggest boost to technology followed by Microsoft (MSFT.O), Alphabet (GOOGL.O) and Facebook (FB.O)".

The tech sector saw a substantial bounce Monday, with the S&P 500 information technology sector closing 1.66 percent higher for its best day of the year.

On the currency front, the US dollar is trading at 111.32 yen compared to the 110.88 yen it fetched at the close of NY trading on Friday.

The S&P technology sector.SPLRCT finished up 1.7 percent after its second straight weekly decline, which was triggered by fears of stretched valuations.

The S&P 500 opened up 0.4 percent, leaving it just below a record of its own.

"Some of it is folks taking a second-look at names that may have been unduly punished in the rotation out of tech that started about 10 days ago", said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas in NY.

USA crude is up 0.22% to $44.85, while the TSX Index in Toronto is up over 73 points at 15,265.

NASA's Kepler mission finds 10 Earth-size exoplanets, 209 others
Kepler discovers new planets by observing the minuscule drop in brightness that occurs when a planet passes in front of its star. Of the 10 newly discovered Earth-size planets , one is the closest to Earth in size and the distance to its host star.

Apple provided the biggest boost to the three major sectors.

Amazon.com's (AMZN.O) Friday announcement that it would buy Whole Foods (WFM.O) and an upbeat tone from Federal Reserve speakers seemed to help reassure investors after the USA central bank's rate hike last week, according to J. Bryant Evans, portfolio manager at Cozad Asset Management, in Champaign, Illinois. Biogen climbed 3.5 percent and Morgan Stanley rose 2.8 percent.

Wal-Mart WMT.N , Target TGT.N and Costco COST.O reversed premarket gains to trade lower.

The Fed commentary last week had surprised investors who expected more caution after some weak USA economic data.

The S&P gained close to 10 points, hitting 2,445; while the Nasdaq - which now includes Altaba, Yahoo's new holding company - rose 0.73 points to 6,196.

Advancing issues outnumbered decliners on the NYSE by 1,808 to 1,049. On the Nasdaq, 1,793 issues rose and 906 fell.

The S&P 500 index showed 49 new 52-week highs and 10 new lows, while the Nasdaq recorded 99 new highs and 87 new lows.

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