Stocks showed little movement on Monday after major stock benchmarks hit record highs and investors awaited the release of inflation data later in the week.
The Dow Jones Industrial Average climbed by 16 points, while the S&P 500 saw a 0.1% increase and the Nasdaq Composite rose by 0.2%.
Amazon became a member of the 30-stock Dow on Monday, taking the place of Walgreens Boots Alliance. The Dow’s holdings are weighted based on stock price, not market capitalization. The addition of the e-commerce giant will boost the index’s exposure to the technology and consumer retail sectors. Amazon’s shares rose by approximately 0.1%.
Heading into the last week of February, stocks are riding high after the major indexes hit key milestones and closed the previous week with gains, buoyed by Nvidia’s strong earnings report. The Dow set a new all-time high, the S&P briefly crossed the 5,100 mark for the first time, and the Nasdaq Composite hit a 52-week high during Friday’s session.
Source (CNBC)
