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Monday’s trading on Wall Street resulted in a mixed finish for the major stock indexes and some market milestones. The S&P 500 and Nasdaq composite both reached all-time highs, with gains of 0.1 per cent and 0.3 per cent, respectively. However, the Dow Jones Industrial Average gave up an early gain and closed 0.1 per cent lower read more
 "Nasdaq, S&P 500 see new record highs, investors eye key data")
In the US stock market, some Wall Street indices clocked in new record highs on July 9. AP
The S&P 500 and Nasdaq indexes continued their upward momentum on Monday, setting new records as investors await crucial inflation data expected later this week.
The broad-based S&P 500 Index edged up 0.1 per cent to close at 5,572.85, while the tech-heavy Nasdaq Composite Index gained 0.3 per cent, finishing at 18,403.74.
Meanwhile, the Dow Jones Industrial Average dipped 0.1 per cent, ending the day at 39,344.79.
The sustained rally over the past several months has propelled the S&P 500 to 35 record highs this year.
Market movers
Chipmaker Nvidia saw a 1.9 per cent increase, Broadcom climbed 2.5 per cent, and Advanced Micro Devices surged 3.9 per cent.
Speciality glassware manufacturer Corning led the market with a 12 per cent jump after raising its sales forecast.
Boeing edged up 0.5 per cent after agreeing to plead guilty to a criminal fraud charge linked to the crashes of its 737 Max jetliners, which resulted in 346 fatalities.
Paramount Global, however, fell 5.3 per cent, marking the largest decline among S&P 500 stocks, following its agreement to merge with Skydance.
Earnings and economic reports
Investors are gearing up for a busy week of earnings reports, including Delta Air Lines on Thursday.
Major banks JPMorgan Chase, Citigroup, and Wells Fargo are set to release their results on Friday, offering insights into consumer debt management and potential concerns over payments and delinquencies.
Additionally, market participants are keenly awaiting consumer inflation data due on Thursday. Indications that price increases are easing could bolster confidence that the Federal Reserve might start cutting interest rates.
Federal Reserve Chair Jerome Powell is scheduled to testify before Congress on Tuesday and Wednesday. The central bank has maintained its benchmark interest rate at a two-decade high to combat inflation.
Bond market dynamics
In the bond market, Treasury yields remained relatively stable. The yield on the 10-year Treasury note dipped to 4.27 per cent from 4.28 per cent on Friday.
With inputs from agencies
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English (US) ·