U.S. stock markets experienced a day of mixed results as investors await an important Federal Reserve meeting scheduled later this week. This meeting is anticipated to significantly influence Wall Streetโs trajectory moving into the coming year.
On Monday, the S&P 500 index increased by 0.4%. Conversely, the Dow Jones Industrial Average saw a decline of 0.3%, while the Nasdaq composite index soared by 1.2%, reaching a new all-time high.
The technology sector was a driving force behind the gains, particularly Broadcom, which gained traction due to growing enthusiasm surrounding its artificial intelligence products.
In cryptocurrency news, Bitcoin achieved a record high exceeding $107,000 before experiencing a slight retracement. Meanwhile, Treasury yields remained relatively stable in the bond market as everyone anticipates a potential rate cut by the Federal Reserve on Wednesday.
In more detailed terms for Mondayโs performance: the S&P 500 rose by 22.99 points, equivalent to 0.4%, closing at 6,074.08. The Dow Jones Industrial Average experienced a decrease of 110.58 points, or 0.3%, finishing at 43,717.48. The Nasdaq composite gained 247.17 points, which is a rise of 1.2%, ending at 20,173.89. Additionally, the Russell 2000 index, which tracks smaller companies, increased by 15.10 points, or 0.6%, to close at 2,361.99.
Looking at the year-to-date performance, the S&P 500 has gained 1,304.25 points, translating to a 27.3% rise. The Dow has seen an increase of 6,027.94 points, which is approximately 16%. The Nasdaq has surged by 5,162.54 points, marking an impressive 34.4% increase. Lastly, the Russell 2000 index has risen by 334.92 points, a 16.5% gain.