Following a record-breaking week for the S&P 500, U.S. stocks continue to be on the rise as investors eagerly await this week’s key earnings reports with optimism.
On Monday, the S&P 500 reached 4,850 points, the Nasdaq 100 climbed to 17,365 and the Dow Jones briefly touched a record-breaking 38,000 points, with all major U.S. averages simultaneously trading at all-time peaks.
Small caps, as tracked by the iShares Russell 2000 ETF (NYSE:IWM) rose 1.7%, outperforming major indices.
The dollar held steady, while Treasury yields slightly eased, providing relief to the bond market. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rose 0.6%.
Gold edged down 0.3%, while oil soared by over 2%, on track to close at the highest level since late December.
Bitcoin tumbled by over 2%, eyeing the lowest level since early December.
Monday’s Performance In US Major Indices, ETFs
| Index | Price | % |
|---|---|---|
| Russell 2000 | 1,973.68 | 1.6% |
| Dow Jones | 37,986.40 | 0.3% |
| S&P 500 | 4,854.84 | 0.3% |
| Nasdaq 100 | 17,362.66 | 0.3% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.3% to $483.78, the SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.3% to $378.86 and the tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) was trading 0.3% higher to $422.35, according to Benzinga Pro data.
Sector-wise, the Industrials Select Sector Fund (NYSE:XLI) slightly outperformed, up 0.7%. The Utilities Select Sector Fund (NYSE:XLU) continued to lag behind, down 0.7%.
Monday’s Stock Movers
Advanced Micro Devices Inc. (NASDAQ:AMD) fell 3.8%, after Northland Capital Market downgraded AMD from Outperform to Market Perform.
Tesla Inc. (NASDAQ:TSLA) fell 1.5%, after a Morgan Stanley’s note revealed a “stalling” global electric vehicle outlook in 2024.
Archer Daniels Midland Co. (NYSE:ADM) tumbled by 22% following the announcement that the agribusiness giant had placed its chief financial officer on administrative leave due to an ongoing investigation into accounting practices within its nutrition segment.
Gilead Sciences Inc. (NASDAQ:GILD) saw a significant drop of more than 10% in its stock price following the company’s disclosure that the Phase 3 Trial of Trodelvy in lung cancer did not achieve its primary objective.
Western Digital Corp. (NYSE:WDC) rose by more than 5%, marking the top performance in the S&P 500, after the company announced…
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