Shares of technology companies rose as portfolio managers chased the stronger sectors after a losing quarter.
At the end of each quarter, mutual-fund managers often buy stocks that are showing strength for the year to make clients' statements look more impressive, said one strategist.
"I think the Nasdaq strenght is part of the end-of-quarter window dressing," said Quincy Krosby, chief global strategist at brokerage LPL Financial.
Wonder Group, the food-delivery startup led by former Walmart executive Marc Lore, struck a deal to acquire online meal ordering service Blue Apron.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
09-29-23 1723ET
