From “Nasdaq”:

The Nasdaq closed with a gain of at least 1% for the first time in 2024 on Monday, as megacap stocks such as Amazon.com, Alphabet, and Apple advanced, helped by a fall in Treasury yields and a surge in chipmakers Nvidia and Advanced Micro Devices. The S&P 500 gained 1.41% to 4,763.51 points, while the Dow rose 0.58% to 37,682.55. Megacaps such as Amazon.com and Alphabet gained as Treasury yields fell. Also, Apple advanced after announcing its Vision Pro mixed-reality device will be available for sale from Feb. 2. Chipmakers Nvidia and Advanced Micro Devices surged, and the Philadelphia SE Semiconductor Index ended up around 3%. According to preliminary data, the Nasdaq Composite gained 2.20% to 14,843.77. The S&P 500 energy index was the sole decliner among the 11 S&P 500 sectors, as crude prices sank about 4%. The Atlanta Fed President said that the Fed’s dual goals of lowering inflation and maintaining low unemployment are not yet in conflict. Money markets now see a 63.8% chance of at least a 25 basis-point rate cut as soon as March, according to CME’s FedWatch Tool. Investors will eye inflation data this week in the form of the consumer price index and producer price index to shape expectations for the path of interest rates by the Fed.



Read more: US STOCKS-Nasdaq rallies as yields fall, Boeing curbs gains on Dow