Stocks experienced a rise on Monday as investors continued to build on the previous session’s historic movement towards record highs. The Dow Jones Industrial Average increased by 138.01 points, or 0.36%, concluding at 38,001.81. This surge pushed the blue-chip average to a new record and above the 38,000 level for the first time. Similarly, the S&P 500 rose by 0.22% to reach 4,850.43, also achieving a fresh all-time high. The Nasdaq Composite saw an advance of 0.32% to reach 15,360.29.
Macy’s saw a more than 3% increase after rejecting a $5.8 billion proposal to take the retailer private. SolarEdge also experienced a jump of approximately 4% following the company’s announcement about a 16% workforce layoff. Conversely, Archer-Daniels-Midland witnessed a significant drop of over 24% after issuing weak earnings guidance and placing CFO Vikram Luthar on leave amidst an investigation tied to accounting practices. B Riley Financial slipped around 2.5% amidst reports that regulators are investigating deals with a client connected to securities fraud.
These gains on Monday follow the breaking of the broad S&P 500’s intraday and closing record highs set in January 2022. This breakthrough indicates that Wall Street is truly in a bull run that began in October 2022 after stocks experienced a decline earlier in the year. increased by 138.01 points, or 0.36%, concluding at 38,001.81. This surge pushed the blue-chip average to a new record and above the 38,000 level for the first time. Similarly, the S&P 500 rose by 0.22% to reach 4,850.43, also achieving a fresh all-time high. The Nasdaq Composite saw an advance of 0.32% to reach 15,360.29.
Source (CNBC)
