(CNBC) Stocks rose to all-time highs on Thursday, led by tech shares, as the strong rally in 2019 continued in the first trading day of the new year.
The Dow Jones Industrial Average advanced 330.36 points, or 0.9% to 28,868.80 and notched its biggest one-day gain since Dec. 6. The S&P 500 closed 0.8% higher —marking its best performance since Dec. 12 — at 3,257.85. The Nasdaq Composite gained 1.3% to end at 9,092.19 and had is best day since Oct. 11. The major averages hit their session highs in the final minutes of trading.
Chip stocks led the way on Wall Street. Advanced Micro Devices was up by 7.1% while Taiwan Semiconductor and Micron Technology both gained at least 3%. KLA and Intel rose by 2.5% and 1.7%, respectively. Apple was among the best-performing Dow stocks, closing 2.3% higher and hitting $300 per share for the first time.
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