US stocks reached new highs on Monday, with the S&P 500 and Dow setting record closes as optimism grew about the economy. Investors are particularly interested in upcoming tech earnings, hoping for signs of an AI-driven boom. The S&P 500 gained 0.2%, Dow rose 0.4%, and Nasdaq climbed 0.3%.
Tech shares, fueled by AI expectations, have lifted the market from its early 2024 slowdown, putting major indexes in positive territory for January. Eyes are on Netflix and Tesla’s quarterly results for insights into the market’s near-term direction.
Federal Reserve officials are expected to remain quiet ahead of the Jan. 30 meeting, while GDP and inflation readings later in the week could influence discussions on when the Fed might pivot to cutting interest rates.
Boeing faced additional pressure as the FAA recommended airlines check another class of 737 jet. Archer-Daniels-Midland stock plummeted over 24% due to an investigation into accounting practices, leading to the CFO’s leave and a delay in earnings results.