The NASDAQ Composite jumped to a record on Monday as investors gear up for a data-heavy week that includes two closely watched readings on inflation.
The Dow Jones Industrials inched up 0.25 points to break for lunch Monday at 45,401.11.
The S&P 500 gained 14.1 points to 6,495.60.
The tech-heavy index galloped 135.87 points to 21,839.26.
The mover higher was led by a rise in shares of chipmaker Broadcom, which gained 3%, and artificial intelligence darling Nvidia, whose nearly 2% advance reversed some of its steep losses from the past month. Meta Platforms, Amazon and Microsoft were also higher.
Investors are awaiting two critical inflation reports this week for more insight into the health of the economy, after weaker-than-expected hiring data on Friday.
The producer price index report for August is due out Wednesday morning, followed by the consumer price index on Thursday.
The data follows the lackluster August jobs report that helped fuel investor hope that the Federal Reserve is all but assured to lower benchmark interest rates at its policy meeting later this month. The jobs figures also raised the prospect of a half-point rate cut.
Prices for 10-year Treasury gained Monday, lowering yields to 4.05% from Friday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices moved higher 52 cents to $62.39 U.S. a barrel.
Gold prices obtained $25.60 to $3,678.90 U.S. an ounce.
