Tech stocks surge to send Nasdaq to record high

US stocks closed higher on Thursday as industrials rebounded and technology names soared, while commodities recovered and the dollar held steady after concerns over an escalating US trade war with China took a breather.

Technology companies – including Facebook, Microsoft and Amazon – hit all-time intraday highs, helping to power the Nasdaq stock exchange to a record high.

Metals also made a comeback, with bargain-hunting investors scrambling to buy, while oil prices steadied.

The Dow Jones Industrial Average rose 224.44 points, or 0.91pc, to 24,924.89, the S&P 500 gained 24.27 points, or 0.87pc, to 2,798.29 and the Nasdaq Composite added 107.31 points, or 1.39pc, to 7,823.92.

“While markets…

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