Stock indexes closed higher on Monday, with the S&P 500 hitting a new record high and the Nasdaq 100 at a 2.25-month high. Data storage and chip makers led the market up, while mining stocks rallied with gold and silver prices hitting all-time highs. Global bourses also rose, with European stocks setting records. Concerns about Fed independence arose after statements from the Trump administration, causing pressure on stocks, bonds, and the dollar. President Trump’s comments on credit card companies also led to stock declines. The odds of a rate cut at the next FOMC meeting are currently at 5%. (Word count: 97)

On Monday, Western Digital, Seagate Technology, and other tech stocks surged, while mining stocks like Hecla Mining also saw gains. Conversely, credit card companies and banks fell after President Trump’s comments. Meanwhile, ANI Pharmaceuticals forecasted strong revenue, Dexcom reported positive Q3 revenue, and Albemarle gained after a stock upgrade. Walmart led the Dow Jones Industrials after being added to the Nasdaq 100. Interest rates rose on concerns about Fed independence, while European government bond yields fell. The Eurozone’s investor confidence index rose to a 6-month high. (Word count: 85)

Read more at Barchart: Stocks Recover as Data Storage Companies and Chip Makers Rally