US Stock Indexes Closed Higher as Amazon Overtakes Microsoft
Zhang Yushuo
/SOURCE : yicai

(Yicai Global) Jan. 8 -- All three major US stock markets closed higher overnight with the NASDAQ up more than 1.2 percent and the Dow Jones up 0.42 percent. E-commerce giant Amazon overtook Microsoft to become the most highly valued listed company in the world.

The Dow Jones Industrial Average was up 98.19 points, or 0.42%, at 23,531.35. The S&P 500 was up 17.75 points, or 0.7 percent, at 2,549.69. The NASDAQ gained 84.60 points, or 1.26 percent, to 6,823.47.

The increase was led by major tech enterprises with Amazon [NASDAQ:AMZN] up 3.44 percent overtaking Microsoft [NASDAQ: MSFT] in terms of market capitalization. Amazon's valuation rose to USD797 billion. Microsoft also rose by 0.13 percent during trading.

Chinese tech companies were also on the rise with Alibaba Group Holding [NYSE: BABA] up 2.4 percent, JD.Com [NASDAQ: JD] up 2.2 percent and Baidu [NASDAQ: BIDU] up 1.03 percent.

The European market was mixed on Monday. The European Stoxx 600 index closed down 0.26 percent. The UK's FTSE 100 closed down 0.4 percent while Italy's FTSE MIB index rose 0.65 percent to 18,953.27. Germany's DAX closed 0.17 percent lower at 10,749.03.

Editor: William Clegg

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Keywords: Nasdaq , NYSE