US stocks continued their upward trajectory on Monday, driven by strong performances in the tech sector. The Dow Jones Industrial Average rose 0.2%, the S&P 500 advanced nearly 0.5%, and the Nasdaq Composite climbed 0.7%, marking three consecutive record closes. Nvidia (NVDA) hit an all-time high following its announcement of a $100 billion investment in OpenAI. Additionally, Oracle (ORCL) surged after it was confirmed as part of a consortium managing TikTok’s US operations. Gold prices also reached new heights, exceeding $3,750, amid expectations of further Federal Reserve rate cuts.
Conversely, cryptocurrencies faltered, with over $1.5 billion in liquidations contributing to a downturn. Investors are now awaiting the upcoming inflation data, specifically the Personal Consumption Expenditures index, which could impact future Fed policy. Wall Street continues to closely monitor statements from Fed officials, including Chair Jerome Powell, in the coming days.
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