S&P 500 and Nasdaq close higher as tech leads broad gains

(CNBC) — Stocks rose on Tuesday, building on the strong performance from the previous session, on the back of broad market gains and solid economic data.

The S&P 500 gained 0.4% and the Nasdaq Composite advanced 1%. The Dow Jones Industrial Average lagged, giving up a 237-point gain and trading just below the flatline as Apple shares dropped more than 1%.

Other major tech names rose, however. Microsoft jumped 1.1%. Amazon rose 1.5% along with Alphabet. Netflix gained 4% and Facebook traded higher by 1.4%. Tesla shares, meanwhile, popped 9% after surging more than 12% on Monday. Those sharp moves higher come after a sharp sell-off in Big Tech last week, which pressured the broader market.

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