Wall Street was focusing on multiple mega-cap tech earnings reports and the Federal Reserve’s rate policy announcement as the S&P 500 surged on Monday and closed at a new record high.
Up 0.76% to 4,927.93, the benchmark index surpassed its all-time high close of 4,894.16, attained on January 25. Although the Nasdaq Composite closed at 15,628.04, up 1.12%, the Dow Jones Industrial Average gained 224.02 points, or 0.59%, to conclude at 38,333.45.
The Dow and the S&P 500 saw their sixth record close.
19% of the S&P 500 will report earnings this week, making it the busiest earnings season so far. Posting their results will be mega-cap tech giants Microsoft, Apple, Meta, Amazon, and Alphabet, who are a part of the core group of large tech companies that have spearheaded this year’s rally. Investors will also be monitoring the quarterly earnings reports from a number of Dow components, such as Boeing and Merck.
Source (CNBC)
