Amazon tops $3,000 for first time
A record close for the Nasdaq to start off the week - powered in part by shares of Amazon, which cracked the $3,000 mark for the first time.
Amazon's stock so far this year has rocketed more than 60 percent as it continues to benefit from a boom in online shopping.
As for the broader market - The Dow rallied 459 points Monday. The S&P 500 gained 49 and the Nasdaq jumped 226.
Tech is the place to be even after the sector's rapid stock market gains, says Aaron Kennon, CEO of Clear Harbor Asset Management.
"The technology sector continues to be a huge tailwind. The idea that strong balance sheet companies that are well managed can increase productivity for corporations as supply chains occur and move around the world, perhaps from China to Vietnam to Malaysia or Mexico or even back here to the United States. lost of technology is going to need to be leveraged in order to make that a great success for the corporations here even at home and I think that's being reflected right now in the market."
Tech wasn't the only thing working in the market's favor. The buying actually started overseas in Asia on optimism China's economy, the world's second biggest, is improving. It continued after the latest U.S. data fueled hopes. Activity in the massive U.S. services sector picked up in June, almost returning to pre-shut down levels.
And then there were the deals.... Warren Buffett is making his first big purchase in four years. The Billionaire investor will pay $4 billion to buy natural gas transmission and storage networks from Dominion Energy. The deal also includes the transfer of $6 billion worth of debt. Shares of Buffett's Berkshire Hathaway jumped more than 2 percent. Dominion slumped roughly 11 percent.
And Uber is buying Postmates for $2.65 billion in order to bolster its Uber Eats food delivery business.
