US STOCKS-Wall Street ends higher with boost from technology stocks

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* Nasdaq registers record closing high
* Technology leads gainers, then utilities, consumer
discretionary
* Indexes rise: Dow up 0.59%, S&P 0.65%, Nasdaq 1.11%

(Updates to close, adds commentary)
By Sinéad Carew
NEW YORK, June 22 (Reuters) - Wall Street's three major
indexes closed higher on Monday with the biggest gains in
technology stocks as investors focused on the potential for more
government stimulus measures even as they worried about an
increase in coronavirus cases in the United States and other
countries.
Nasdaq registered its fourth record closing high this month
with the biggest boosts from Microsoft MSFT.O , Apple AAPL.O
and Amazon.com AMZN.O .
The World Health Organization reported a record rise in
global coronavirus cases on Sunday, driving demand for perceived
safe havens including gold and longer-term U.S. Treasuries.
US/ GOL/
While New York City on Monday celebrated the lifting of many
coronavirus restrictions, a dozen states in the U.S. South and
Southwest reported record increases in new cases with 10% to 20%
of people testing positive in some. However White House economic adviser Larry Kudlow told CNBC
that there was no second wave of the pandemic and that it is
unlikely there will be widespread shutdowns across the country.
Investors were also clinging to hopes for more government
stimulus after U.S. House of Representatives Democrats on
Thursday unveiled a $1.5 trillion infrastructure bill in the
same week that reports emerged of preparations by the Trump
administration for an infrastructure stimulus plan. "The good news from last week is dominating the bad news
from today, which is the increase in COVID cases," said Nela
Richardson, investment strategist at Edward Jones, who cautioned
that government infrastructure spending plans have failed to
become reality several times in the recent past.
Richardson said rising virus case numbers spurred a rotation
out of sectors hit hardest by coronavirus' economic impacts
into more resilient sectors such as technology.
U.S. President Donald Trump said on Monday that he supported
the idea of giving Americans a second round of financial aid
because of the virus. The Dow Jones Industrial Average .DJI rose 153.5 points,
or 0.59%, to 26,024.96, the S&P 500 .SPX gained 20.12 points,
or 0.65%, to 3,117.86 and the Nasdaq Composite .IXIC added
110.35 points, or 1.11%, to 10,056.48.
Of the S&P's 11 major sectors, technology was leading the
pack. However the next biggest gainer was the defensive
utilities .SPLRCU sector.
The market took a step back on Friday after Apple Inc's
AAPL.O move to temporarily shut some U.S. stores again
underscored concerns of a delay in the recovery.
But Apple shares climbed on Monday and trading at record
highs as the company announced new products at its annual
conference for software developers.
Travel-related stocks were some of the weakest as those
companies have been hit hard in the past by lockdowns.
The S&P 1500 airlines index .SPCOMAIR dropped 1.3%, while
shares of cruise operators Norwegian Cruise Line NCLH.N and
Royal Caribbean Cruises RCL.N dropped 6%.
U.S.-based meat processor Tyson Inc TSN.N slipped 2.8% as
China's customs authority suspended imports of poultry products
from a plant owned by the company that had been hit by the
coronavirus. American Airlines Group Inc AAL.O fell almost 7% as it
planned to secure $3.5 billion in new financing by selling
shares and convertible senior notes to boost liquidity.
Virgin Galactic Holdings Inc SPCE.N soared just under 16%
as it signed up with NASA to develop a program to promote
private missions to the International Space Station.
Advancing issues outnumbered declining ones on the NYSE by a
1.18-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored advancers.
The S&P 500 posted 14 new 52-week highs and no new lows; the
Nasdaq Composite recorded 120 new highs and nine new lows.
On U.S. exchanges 10.66 billion shares changed hands
compared with the 13.29 billion average for the last 20
sessions.