The U.S. stock market saw an upward trend for the third consecutive day on Monday, with all three main indexes reaching new 52-week highs, as per FactSet data. Investors eagerly awaited Tuesday’s inflation report and Wednesday’s Federal Reserve decision on interest rates. Let’s dive into the details.
S&P 500 Reaches 4,622.43 Points
The S&P 500 (SPX) showed a positive movement, gaining 18.02 points (0.4%) to close at 4,622.43, according to preliminary closing data from FactSet. This marks a significant boost for the stock market.
Dow Jones Industrial Average Surges to 36,404.93
The Dow Jones Industrial Average (DJIA) soared by 157.06 points (0.4%), closing at 36,404.93. This is the highest closing since January 5, 2022, and brings the market closer to its all-time high.
Nasdaq Composite Sees a Moderate Rise
The Nasdaq Composite (COMP) observed a modest increase of 28 points (0.2%), settling at 14,432.49. While some high-profile tech names experienced a slight decline, the semiconductor stocks index reached a fresh peak on Monday.
Broadcom Inc. Sets New Record
Broadcom Inc. (AVGO) stole the spotlight by recording a significant gain of 9%, elevating its share price to a record-breaking $1,029.24 (preliminary data). Remarkably, this achievement occurred amidst weaker performance from mega-cap tech companies like Nvidia Corp.
Overall, the U.S. stock market maintains its upward trajectory, leaving investors eagerly awaiting key reports and decisions that will shape the coming days.
