Shares of technology companies rose as investors bet the sector would continue to grow regardless of the course of the Covid-19 pandemic.
Shares of Amazon.com, a major beneficiary of the lingering lifestyle changes induced around the world by the pandemic, rose above $2,900 for the online mega-store's ninth straight weekly advance -- a run that's seen it almost doubling in value since March.
Among other companies considered "stay-at-home" bets, shares of Microsoft also saw strong gains on the week.
Tesla's second-quarter global deliveries fell 4.9% from a year earlier, a much smaller decline than Wall Street had forecast, underpinning Chief Executive Elon Musk's ambitious growth plans despite the coronavirus pandemic and threat of an extended recession.
Write to Rob Curran at rob.curran@dowjones.com
