Nasdaq Sets Closing Record as Technology Shares Lead Gains
The Nasdaq rose 1.1% to a record close, while investors weighed services data and awaited the Federal Reserve’s September meeting minutes.
Key takeaways
- The Nasdaq Composite gained 1.1% to a record close of 27,477.31.
- NVIDIA rose 2.1% and Microsoft gained 1.5%.
The Nasdaq Composite closed at a record 27,477.31 on Monday, up 1.1% as technology shares advanced. The Dow rose 0.2% to 51,267.90, while the S&P 500 gained 0.7% to 7,773.95.
NVIDIA shares climbed 2.1% and Microsoft rose 1.5%, helping lift the technology-heavy index. Its previous record close was 27,244.28 on Sept. 22.
Investors are looking to the release of the Federal Reserve’s September meeting minutes for further detail on its 25-basis-point rate increase and policy decisions.
The Institute for Supply Management said its services purchasing managers index was 54.9% in September, matching the Zacks Consensus Estimate. The August reading was 55.4%; readings above 50% indicate expansion.
This article was produced with the help of AI technology. Source: Yahoo Finance
