Tech Stocks Propel S&P 500 and Nasdaq to Historic Highs

The S&P 500 and Nasdaq reached historic highs on Monday, buoyed by robust gains in major tech stocks. Investors are keenly anticipating tech earnings reports this week, particularly from industry heavyweights like Google-parent Alphabet and Tesla, which could set the direction for the market's trajectory.

At 11:21 a.m. ET, the S&P 500 rose by 34.97 points, achieving a figure of 6,331.90, while the Nasdaq Composite increased by 147.24 points to reach 21,042.87. The Dow Jones Industrial Average also showed notable growth, adding 201.87 points to a total of 44,544.76.

Verizon's 4.1% gain after an annual profit forecast boost helped propel the communications sector to the forefront. The spotlight was firmly on Alphabet and Tesla, both considered underperformers among the 'Magnificent Seven,' whose results might crucially impact Wall Street.

(With inputs from agencies.)