The Nasdaq Composite Index Thursday afternoon was showing sharp gains, putting the index that is normally associated with the technology and internet-related industry, on pace for its best day since Aug. 2, according to FactSet data. The Nasdaq COMP, +0.98% was up 1% at 8,032 and trading near session highs as the Dow Jones Industrial Average DJIA, +0.95% was set for its first record close since Jan. 26 and the S&P 500 index SPX, +0.78% was on track for its first all-time closing high since Aug. 29. Technology and internet-related shares have lagged other sector of late, weighed by volatility in large-capitalization chipmakers, but the markets have been in a decided uptrend, of late. Investors have shaken off worries about trade spats, even as President Donald Trump earlier this week reiterated his hard-line stance on China and said the U.S. had "no choice" but to levy another $267 billion in duties on China. China responded with an announcement of 5% to 10% tariffs on $60 billion in U.S. goods. Those tariffs are set to go into force on Sept. 24. Wall Street investors, however, have instead focused on the health of the domestic economy and a strong run of quarterly earnings in the second quarter.
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