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The Dow Jones Industrial Average closed on a positive note, up 0.2 per cent at 38,868.04. The broad-based S&P 500 climbed 0.3 per cent to 5,360.79, while the tech-heavy Nasdaq Composite Index advanced 0.4 per cent to 17,192.53. These are record closings for the two indices read more
 "US stock market soars, S&P 500 and Nasdaq clock in record closings ahead of Fed meeting, CPI data")
The US stock market recorded a good performance on Monday, with the S&P 500 and Dow Jones noting record closings. Reuters
Wall Street stocks increased slightly on Monday ahead of a Federal Reserve meeting, with both the S&P 500 and Nasdaq closing at new records following a volatile session.
The Dow Jones Industrial Average closed on a positive note, up 0.2 per cent at 38,868.04. The broad-based S&P 500 climbed 0.3 per cent to 5,360.79, while the tech-heavy Nasdaq Composite Index advanced 0.4 per cent to 17,192.53. These are record closings for the two indices.
Momentum stocks
Nvidia boosted the S&P 500 and the Nasdaq by almost one percent after implementing its 10-for-one stock split.
Apple, on the other hand, fell 1.9 per cent as investors remained unimpressed by “Apple Intelligence,” the company’s suite of new AI features for its devices, and its partnership with Sam Altman-led OpenAI.
Diamond Offshore surged 10.9 per cent after the oil services company agreed to be acquired by Noble Corp in a deal that combines offshore drilling companies valued at about $1.6 billion. Noble Corp’s stock also rose by 6.1 per cent.
Southwest Airlines saw one of the market’s largest gains, rising by 7 percent, after Elliott Investment Management announced that it has acquired a $1.9 billion ownership stake in the company. The investment firm is advocating for new leadership to update the carrier’s software, strategy, and operations.
Huntington Bancshares dropped 6.1 per cent for one of the market’s largest losses after cutting its forecast for a key component of profit this year.
Investors remain cautious
Investors maintained a cautious stance in light of the upcoming consumer prices report and the Federal Reserve’s policy announcement, both of which are due Wednesday.
The Fed, which is set to release updated economic and policy projections, is expected to hold interest rates steady. Investors are likely to watch for clues on when the Fed may begin to cut interest rates.
The data on the economy have been mixed recently, and traders are hoping that they will ultimately show a slowdown that falls short of a recession and is just right in magnitude. A cooldown would exert less upward pressure on inflation.
With inputs from agencies
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English (US) ·