Technology stocks pushed the benchmark S&P 500 index to an all-time high and the Nasdaq close to its record level, as a possible U.S.-China trade deal and rising bets on a third rate cut by the Federal Reserve fueled optimism.
Shares of Microsoft Corp. gained more than 2% and provided the biggest boost to all three main indexes after the technology giant won the Pentagon’s $10 billion cloud computing contract, beating Amazon.com Inc.
