Wall Street Extends Record-Streak on Big Tech Gains
On Monday, the US stock market experienced a rise as Wall Street continued its streak of record highs, bolstered by optimism surrounding major Big Tech companies. The S&P 500 increased by 0.4%, the Nasdaq advanced by 0.5%, and the Dow rose by 66 points, with all three indices achieving new record levels. Nvidia experienced a significant surge of 4% following its announcement of a potential $100 billion investment in OpenAI, boosting both the S&P 500 and Nasdaq. Oracle saw a strong gain of 6.3% amidst leadership changes and sustained enthusiasm for AI technologies. Apple’s shares climbed 4.3%, driven by robust demand for the iPhone 17, while Tesla advanced 1.9%, touching its highest point since 2025 as investors expected new product launches and developments in self-driving technology. In contrast, Kenvue's shares declined by 7.5% after President Trump suggested a disputed link between Tylenol use during pregnancy and autism, a claim that was refuted by both the company and medical experts. Investors remain attentive to the Federal Reserve, following last week’s 25-basis-point rate cut, with officials emphasizing that controlling inflation is a priority over pursuing further rate easing.
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