Alibaba is no longer the biggest e-commerce dragon

Tech just might be bullet-proof – going by Nasdaq’s record performance.

Nasdaq – the tech bellwether – ended Friday at a new peak while the other main Wall Street indexes fell, reflecting the mixed sentiment catalysed by a disappointing U.S. jobs report which raised concerns about the pace of economic recovery but weakened the argument for near-term tapering.

On the final day of trading before the Labour Day weekend, both the S&P 500 and Dow posted marginal declines, tempering the former’s positive weekly performance and extending the latter’s run of losses to four in the last five sessions.

For the week, the tech-heavy Nasdaq clocked a modest 1.5% gain, while the  S&P 500 climbed 0.6%, and the Dow lost 0.2%