New high for the NASDAQ index is traders pile into tech shares

Market Performance - The NASDAQ index gained 197 points or 0.90% to reach 22339, with a high of 22340.91 [1] - The S&P index increased by 31 points or 0.47% to 6614.69, with an earlier high of 6619.62, indicating potential for a new record close [1] - The Dow industrial average declined by 48 points or -0.11% to 45787.66, with companies like Amgen, McDonald's, Sherwin-Williams, and 3M contributing to the downturn [2] - The small-cap Russell 2000 rose by 7.69 points or 0.32% to 2404.73 [2] Notable Stock Movements - Tesla surged by 6.45% following reports of Elon Musk purchasing about $1 billion in Tesla stock, indicating strong bullish momentum [3] - Chewy increased by 5.42% due to optimism for continued demand growth in online pet supplies [3] - ASML ADR rose by 5.37% driven by strong semiconductor sector momentum and robust chip equipment demand [3] - Western Digital gained 5.24% as memory chip recovery prospects improved [3] - Roblox climbed by 4.55% on sustained growth expectations in gaming and metaverse engagement [3] - Tapestry increased by 4.34% supported by strong consumer discretionary flows and luxury retail optimism [3] - Intel advanced by 4.05% due to chip sector strength and AI-related tailwinds [3] - Alphabet A rose by 3.65% on steady ad revenue momentum and AI growth prospects [3] - Oracle increased by 3.28% following upbeat sentiment around its cloud and AI-driven enterprise services [3] - GameStop Corp climbed by 3.07% as retail interest in meme-related stocks remains elevated [3] - Snowflake edged higher by 2.76% with continued confidence in data and AI-related demand [3] - Snap increased by 2.66% on improving advertising sentiment [3] - Stellantis NV ticked up by 2.64% supported by global auto demand and EV outlook [3] - CrowdStrike Holdings advanced by 2.31% on strong cybersecurity sector momentum [3]