Shares of technology companies rose as mega-cap firms tested all-time highs.

Shares of artificial-intelligence powering chip maker Nvidia rose by more than 3%, approaching its peak for the year, nearly double its value at the end of 2023.

Perficient shares rose after Swedish investment firm EQT agreed to buy the digital consultancy for $3 billion in cash.

Shares of Apple fell after reports that Berkshire Hathaway pared down its stake in the tech giant.

The gadget maker could recapture investors' imagination with a product event later this week, said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

Investors are piling into high-risk areas because of the sense that "bad news is good news," because of the interest-rate implications of data such as Friday's weak jobs data, said Joyce.

"We've heard for so long about how the next shoe's about to drop and it's done anything but that so far," said Joyce. "Now we're just starting to see some wakness so the question is: 'is that temporary or is that a trend?'"

Write to Rob Curran at

(END) Dow Jones Newswires

05-06-24 1726ET