Wall Street ticked to more records.
The S&P 500 climbed 0.5% Monday and topped its prior all-time high set last week. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq composite added 0.9% to its all-time high. Tesla jumped after Elon Musk bought stock worth roughly $1 billion in it, potentially signaling his faith in the electric vehicle company.
The week’s main event will arrive Wednesday, when traders expect the Federal Reserve to announce its first cut to interest rates of the year. Perhaps more important will be whether it hints more cuts are coming, as Wall Street also expects.
On Monday:
The S&P 500 rose 30.99 points, or 0.5%, to 6,615.28.
The Dow Jones Industrial Average rose 49.23 points, or 0.1%, to 45,883.45.
The Nasdaq composite rose 207.65 points, or 0.9%, to 22,348.75.
The Russell 2000 index of smaller companies rose 8.07 points, or 0.3%, to 2,405.13.
For the year:
The S&P 500 is up 733.65 points, or 12.5%.
The Dow is up 3,339.23 points, or 7.8%.
The Nasdaq is up 3,037.96 points, or 15.7%.
The Russell 2000 is up 174.97 points, or 7.8%.