From NASDAQ:

Wall Street’s main indexes closed higher on Monday, with Alphabet and Tesla boosting the technology-heavy Nasdaq. Google’s AI plans with Apple supported the market, while Tesla’s announcement of a price increase for its Model Y EVs lifted shares. Nvidia closed flat despite its developer conference. Investors await the Federal Reserve’s meeting anxiously. The Dow gained 0.20%, the S&P rose 0.63%, and the Nasdaq climbed 0.82%.

Stronger-than-expected inflation data has led traders to reassess rate cut expectations for 2024, with Goldman Sachs now anticipating three cuts instead of four. Concerns about the Fed’s policy update this week weighed on the market, with the possibility of a hawkish tone pressuring stocks. Nasdaq resolved connectivity issues, while Xpeng announced plans for a cheaper EV brand.

Boeing declined after reports of a federal subpoena related to a midair incident, while Super Micro Computer, a recent S&P 500 addition, closed down 6.4% despite a year-to-date gain of over 252%. Market breadth showed more advances than declines on the NYSE, while declining issues slightly outnumbered advancers on the Nasdaq. The S&P 500 and Nasdaq recorded new highs and lows. Trading volume on U.S. exchanges was lower than the 20-session average.



Read more at NASDAQ: US STOCKS-Wall Street ends higher, investors juggle Fed nerves with AI enthusiasm