S&P 500 and the Nasdaq settled with new records

Wall Street ended this Monday in mixed territory. The Dow Jones dropped by 0.25%. However, the selective S&P 500 and Nasdaq ended with new records.

At the close of the NYSE, the S&P increased by 0.18% or 7.71 units to 4,255. 

The Nasdaq Stock Market, listing the leading technology companies, grew by 0.74% or 104.72 points to 14,174. 

Meanwhile, the Dow Jones fell by 0.25% or 85.85 points to 34,393.75. Investors are waiting for the Fed meeting to be held this week and its possible comments on inflation. 

The central bank will hold the meeting on Wednesday, and it will close with a statement from Fed Chairman Jerome Powell announcing interest rates. So far, Powell has maintained that the price hike is temporary and has stated that he does not plan to change central bank interest rates. 

Despite this, investors are on the lookout for any possible change in Powell’s message after the sharp rise in prices in May. 

 

The Tech sector led the gains on Monday

The technology sector led the increases on Wall Street, adding 1.04%. Communications and industrial companies followed it by rises of 0.74% and 0.48%, respectively. 

On the contrary, the most considerable losses were for commodities companies, financial and industrial companies.

Among the thirty Dow Jones stocks, Salesforce increased by 2.48%, Apple gained 2.46%, and Microsoft added 0.76%. As for the losses, JPMorgan Chase dropped by 1.70%, Walgreens yielded 1.59%, and Dow dipped by 1.53%.

Meanwhile, one of the meme values, the AMC cinema chain, still experienced substantial increases. It advanced by more than 15% amid renewed bets from retail investors coordinated through the internet. 

At the close of Wall Street, the yield of the 10-year Treasury bond increased to 1.499%. It hit a 3-month low last Thursday.