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Markets Fairly Static to Start the Week
Stocks Little Changed Monday After Record Week
S&P Cracks 5,000-Point Level, Enjoys 5th-Straight Winning Week
S&P Cracks 5,000-Point Level
S&P Tops 5,000 Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, February 12, 2024
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Stocks nudged higher Monday, building on their strong performance from last week, with the
S&P 500 and
Dow Jones Industrial Average reaching new all-time highs. Investors also awaited the release of key inflation and earnings data.
The blue-chip index shot up 217.18 points to move into Monday afternoon at 38,888.87.
The S&P 500 index improved 20.74 points to 5,047.35.
The NASDAQ index jumped 70.97 points to 16,061.63.
Salesforce dragged the Dow down, with the cloud-based software stock sliding 1%. Shares of Hershey slid more than 1% following a downgrade to underweight from Morgan Stanley on the back of softer demand.
On the other hand, Diamondback Energy rose 10% after announcing that it would acquire oil and gas producer Endeavor Energy Partners.
Nvidia stock rose 2.4%, marking a 20% gain on the month and pushing the chip giant's market capitalization closer to overtaking that of Amazon's. Fellow“Magnificent 7” titan Meta Platforms also added more than 1%.
Prices for the 10-year Treasury sagged, raising yields to 4.19% from Friday's 4.18%. Treasury prices and yields move in opposite directions.
Oil prices were better by 17 cents to $77.01 U.S. a barrel.
Gold prices floundered $9.20 to $2,039.10.
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