The S&P 500 reached new heights on Monday following a strong week for the major averages that drove them to fresh record highs.
The Dow Jones Industrials regained 11.63 points to break for lunch at 46,294.26.
The much-broader index squeezed ahead 10.56 points to 6,674.92
The tech-heavy NASDAQ gained 62.78 points to 22,694.26. led by a surge in Apple shares amid growing investor enthusiasm about new iPhone sales.
Shares of Oracle also jumped after the software giant announced Monday that it has promoted Clay Magouyrk and Mike Sicilia to co-CEOs as Safra Catz takes a step back to serve as executive vice chair on the company’s board. The move higher adds to the stock’s sizable run this month, with it soaring 42% in the period.
Stocks were kept in check by the growing risk of a government shutdown. Last week, the Senate rejected Republican and Democratic proposals at least temporarily to fund the federal government.
Senate Democratic Leader Chuck Schumer has since urged President Donald Trump to meet with Democrats to strike a deal.
These developments come as the deadline for lawmakers to fund the government is Sept. 30.
The stock market is coming off a solid weekly advance, with the three major indexes hitting all-time highs.
Pfizer gained ground after an announcement it would buy Metsera for $4.9 billion in cash. The deal is expected to close in the fourth quarter. Pfizer shares ticked 61 cents, or 2.5%. higher to $24.64.
Prices for 10-year Treasury faded Monday, pushing yields up to 4.15% from Friday’s 4.13%. Treasury prices and yields move in opposite directions.
Oil prices dipped 15 cents to $62.53 U.S. a barrel.
Gold prices surged $63.50 to $3,769.30 U.S. an ounce.
