The S&P 500 reached new heights on Monday, led by a move higher in Nvidia, as a recent partnership announcement with OpenAI fueled investor optimism about the future of artificial intelligence.
The Dow Jones Industrials gained 66.27 points to close at 46,381.54.
The much-broader index added 29.37 points to 6,693.75
The tech-heavy NASDAQ spurted ahead 157.5 points to 22,788.98. led by a surge in Apple shares amid growing investor enthusiasm about new iPhone sales.
While stocks began the trading day lower, they ultimately finished the day higher, being propped up by Nvidia and others. Shares of the AI chip darling advanced about 4% after the company said it’s going to invest $100 billion in OpenAI for the buildout of data centers.
The new deal could signify that the AI trade will continue to “drive EPS and share price growth into 2026 and beyond.”
Fellow AI-related name Oracle was also a winner Monday after the software giant announced 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.
Oracle’s climb adds to the stock’s sizable 42% run this month. Apple shares similarly saw a meaningful boost on enthusiasm about new iPhone sales.
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 four cents to $62.64 U.S. a barrel.
Gold prices surged $76.40 to $3,782.20 U.S. an ounce.
