Equity markets were relatively unchanged on Monday following the attainment of record highs by key stock indicators, as investors awaited the upcoming inflation data release scheduled for later in the week.
The Dow Jones Industrial Average saw a minor uptick of 22 points, representing a small increase of 0.05%, while the S&P 500 experienced a slight decline of 0.04%. Conversely, the Nasdaq Composite exhibited a modest gain of 0.2%.
As part of recent developments, Amazon made its entrance into the 30-component Dow, taking the place of Walgreens Boots Alliance. Notably, the Dow’s composition is structured based on stock price rather than market capitalization. Amazon’s inclusion will enhance the index’s exposure to the technology and consumer retail sectors, with the e-commerce giant’s shares posting a 0.3% increase on Monday.
The stock market concludes February with positive momentum, as major indices achieved significant milestones and closed the previous week on a positive note, primarily driven by the impressive earnings report from Nvidia.
Source (CNBC)
