The NASDAQ Composite closed at a record high on Monday as investors geared up for a data-heavy week that includes two closely watched readings on inflation.
The Dow Jones Industrials strengthened 114.09 points to close Monday at 45,514.95.
The S&P 500 gained 13.65 points to 6,495.15.
The tech-heavy index hiked 98.31 points to 21,798.70.
The move higher was led by a rise in shares of chipmaker Broadcom, which gained 3%, and artificial intelligence darling Nvidia, whose almost 1% advance reversed some of its steep losses from the past month. Amazon and Microsoft were also higher.
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 4.04% from Friday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices moved higher 59 cents to $62.46 U.S. a barrel.
Gold prices obtained $22.70 to $3,676 U.S. an ounce.
