U.S. stocks maintained their upward trajectory on Monday, with Wall Street experiencing a record-setting streak primarily fueled by significant gains in the technology sector. The Dow Jones Industrial Average saw a modest increase of 0.2%, while the S&P 500 advanced nearly 0.5%. The Nasdaq Composite, heavily weighted towards tech companies, led the charge with a notable 0.7% rise. This marked the third consecutive day that all three major indices achieved fresh record highs.
A standout performer was Nvidia (NVDA), whose stock soared to an all-time high following the announcement of a substantial $100 billion investment in OpenAI, the creator of the popular AI chatbot ChatGPT. Alongside Nvidia’s gains, Oracle (ORCL) shares also saw an uptick, particularly after the White House confirmed Oracle’s role in a consortium managing TikTok’s operations in the United States.
Additional tech momentum was observed in Tesla (TSLA), which neared its 2025 highs as investors considered the company’s progressing self-driving technology and anticipated product launches.
In the commodities market, gold prices reached new heights, surpassing $3,750 as market participants speculated on further interest rate cuts by the Federal Reserve—predicted to drop twice more before the conclusion of 2025. Conversely, cryptocurrencies faced downward pressure, with bitcoin (BTC-USD) and others dropping as over $1.5 billion in bullish positions were liquidated.
Investors are keenly awaiting insights from the Federal Reserve’s upcoming readings, particularly regarding the Personal Consumption Expenditures price index, which is scheduled for release on Friday. This indicator is critical for gauging inflation and may influence expectations around potential interest rate adjustments. Market speculation suggests that a weaker reading could enhance the likelihood of another quarter-point cut in October.
A busy week of Federal Reserve commentary is also on the horizon, featuring appearances from key figures such as Fed Chair Jerome Powell and new governor Stephen Miran. On Monday, Miran remarked that he supports lowering interest rates by about two percentage points. Powell is expected to speak on Tuesday.
The financial landscape is not without its challenges; concerns have arisen from recent immigration policies announced by the Trump administration, which impose a hefty $100,000 fee on H-1B work visas. Companies like Microsoft (MSFT) and Goldman Sachs (GS) have communicated with employees about potential ramifications.
As the week progresses, the stock market continues to thrive, buoyed particularly by the performance of technology giants, collectively known as the “Magnificent Seven.” Apple (AAPL) played a significant role in this momentum, recovering its losses for the year and registering a notable price increase following an analyst upgrade, which raised its price target to $310.
ASML (ASML) shares also experienced a boost after Morgan Stanley upgraded the company’s stock rating in anticipation of increasing demand for its advanced chipmaking equipment. Meanwhile, Constellation Energy (CEG) and Vistra (VST) benefited from favorable analyst assessments, further emphasizing the energy sector’s strength amid growing data center power requirements.
In corporate news, Pfizer (PFE) announced plans to acquire weight-loss drug developer Metsera, sending that company’s stock soaring. Additionally, T-Mobile (TMUS) will experience a leadership change as COO Srini Gopalan steps into the CEO role.
Overall, with robust performances from tech stocks and optimistic sentiment regarding economic developments, Wall Street shows resilience as it navigates various challenges and opportunities.
