U.S. stock markets experienced a modest uptick, while declines in shares of Nvidia and certain major technology firms limited the overall gains on Wall Street.
The S&P 500 saw a slight increase of 0.1% on Monday, building on a rally from the previous week following Donald Trump’s recent presidential win and the Federal Reserve’s decision to lower interest rates.
Meanwhile, the Dow Jones Industrial Average surged by 0.7%, and the Nasdaq composite also climbed by 0.1%.
Tesla, led by Elon Musk, emerged as a significant contributor to the S&P 500’s upward movement.
In addition to the tech giant, bank stocks and other favored investments related to Trump’s policies also helped bolster the market.
Notably, Bitcoin surged past $86,000 for the first time, indicating a strong performance in the cryptocurrency sector.
It is worth mentioning that bond trading was paused due to the observance of Veterans Day.
On the day in question:
– The S&P 500 increased by 5.81 points, or 0.1%, closing at 6,001.35.
– The Dow Jones Industrial Average climbed by 304.14 points, or 0.7%, settling at 44,293.13.
– The Nasdaq composite grew by 11.99 points, or 0.1%, finishing at 19,298.76.
– The Russell 2000 index, which tracks smaller companies, rose by 35.34 points, or 1.5%, to end at 2,434.98.
As for the year-to-date performance:
– The S&P 500 has advanced by 1,231.52 points, equating to a 25.8% rise.
– The Dow Jones has gained 6,603.59 points, reflecting a 17.5% increase.
– The Nasdaq shows a growth of 4,287.41 points, marking a 28.6% uptick.
– Lastly, the Russell 2000 has climbed 407.90 points, which corresponds to a 20.1% growth.