S&P 500 rises, inches towards record high
The S&P 500 (^GSPC) rose 0.3% on Monday, inching closer to its July record highs. The index was less than 0.5% away from its July 16 all-time record close of 5,667.20.
The Dow Jones Industrial Average (^DJI) rose 0.3% on Monday. The tech-heavy Nasdaq Composite (^IXIC) drifted just above the flatline after opening slightly lower.
Mon, August 26, 2024 at 8:31 PM GMT+7
Stocks open mixed as investors turn focus on Nvidia earnings this week
Stocks traded mixed on Monday as investors turn their focus to a busy week spearheaded by Nvidia's (NVDA) earnings report.
The S&P 500 (^GSPC) rose roughly 0.1%, while the Dow Jones Industrial Average (^DJI) added roughly 0.2%. The tech-heavy Nasdaq Composite (^IXIC) slipped just below the flatline after the major indexesrallied on Friday.
The focus this week is firmly on Nvidia earnings. A lot is riding on those results since the AI chip heavyweight has been a major driver of the markets this year. Nvidia stock was little changed on Monday morning following a 4.5% gain on Friday.
Stocks neared fresh record highs on Friday after Fed Chair Jerome Powell made it crystal clear the central bank is ready to pivot to lowering rates in September. The benchmark S&P 500 index is less than 1% away from topping the all-time closing high set in July.