(Sharecast News) - Major indices closed higher on Monday as market as the looming risk of a possible government shutdown was offset by news of Nvidia's partnership with OpenAI.
At the close, the Dow Jones Industrial Average was up 0.14% at 46,381.54, while the S&P 500 advanced 0.44% to 6,693.75 and the Nasdaq Composite saw out the session 0.70% firmer at 22,788.98.
The Dow closed 66.27 points higher on Monday, extending gains recorded in the previous session as major indices wrapped up the week at record highs, thanks to the Federal Reserve's decision to lower its benchmark overnight interest rate by 25 basis points, extending the strong momentum seen throughout the week
Nvidia advanced 3.9% on Monday after announcing that it will invest $100bn in OpenAI for the buildout of data centres, while software firm Oracle also traded higher after it named Clay Magouyrk and Mike Sicilia as co-chief executive officers as Safra Catz takes a step back to serve as executive vice chair, and Apple stock traded 4% higher on the back of enthusiasm about new iPhone sales.
A looming risk of a US government shutdown was also in focus after the Senate failed to pass either Republican or Democratic proposals to temporarily extend federal funding. Senate Democratic Leader Chuck Schumer has since called on Donald Trump to engage with lawmakers in a bid to reach a compromise. The current funding deadline is 30 September, with no clear path yet to avoid a lapse in government operations.
On the macro front, the Chicago Federal Reserve's national activity index came in at -0.12 in August, the highest reading in five months, compared to a downwardly revised -0.28 in the prior month. Production-related indicators contributed -0.02, up from -0.17 in July, while the sales, orders, and inventories category made a neutral contribution, up from -0.02. Employment-related indicators contributed -0.07, up from -0.10, and the personal consumption and housing category's contribution was -0.03, down from +0.02 in July. Meanwhile, the three-month moving average increased to -0.18 in August from -0.20 in July
No major corporate earnings were released on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Apple Inc. (AAPL) $256.08 4.31%
International Business Machines Corporation (CDI) (IBM) $270.63 1.87%
Unitedhealth Group Inc. (UNH) $341.17 1.37%
Caterpillar Inc. (CAT) $470.97 1.19%
Salesforce.Com Inc. (CRM) $249.62 1.05%
Visa Inc. (V) $343.18 0.81%
Nike Inc. (NKE) $71.96 0.55%
Walmart Inc. (WMT) $102.71 0.48%
McDonald's Corp. (MCD) $302.98 0.20%
Goldman Sachs Group Inc. (GS) $803.75 0.07%
Dow Jones - Fallers
Intel Corp. (INTC) $28.76 -2.77%
Procter & Gamble Co. (PG) $154.06 -1.90%
3M Co. (MMM) $153.99 -1.75%
Boeing Co. (BA) $212.62 -1.65%
Dow Chemical Co. (DOW) $23.22 -1.36%
Merck & Co. Inc. (MRK) $80.49 -1.36%
Johnson & Johnson (JNJ) $175.24 -1.12%
Walt Disney Co. (DIS) $112.08 -1.05%
Home Depot Inc. (HD) $413.08 -0.89%
JP Morgan Chase & Co. (JPM) $312.73 -0.74%
S&P 500 - Risers
CenturyLink Inc. (LUMN) $6.36 8.93%
Oracle Corp. (ORCL) $322.32 6.31%
Applied Materials Inc. (AMAT) $200.52 5.48%
Western Digital Corp. (WDC) $112.41 5.42%
Qorvo, Inc. (QRVO) $96.32 4.91%
Wabtec Corp. (WAB) $200.09 4.91%
Iron Mountain Inc (New) (IRM) $103.81 4.58%
Apple Inc. (AAPL) $256.08 4.31%
Seagate Technology Plc (STX) $230.50 4.19%
Lam Research Corp. (LRCX) $132.20 4.16%
S&P 500 - Fallers
Alaska Air Group Inc. (ALK) $54.26 -4.31%
Lennar Corp. Class A (LEN) $121.93 -4.25%
Brighthouse Financial, Inc. (BHF) $55.16 -4.22%
Church Dwight Co Inc. (CHD) $87.04 -4.06%
Macy's Inc. (M) $16.97 -3.76%
MGM Resorts International (MGM) $34.78 -3.66%
Molson Coors Beverage Co. Class B (TAP) $45.43 -3.18%
Archer-Daniels-Midland Co. (ADM) $59.16 -2.90%
Arista Networks Inc. (ANET) $145.78 -2.81%
Intel Corp. (INTC) $28.76 -2.77%
Nasdaq 100 - Risers
Applied Materials Inc. (AMAT) $200.52 5.48%
Western Digital Corp. (WDC) $112.41 5.42%
Apple Inc. (AAPL) $256.08 4.31%
Seagate Technology Plc (STX) $230.50 4.19%
Lam Research Corp. (LRCX) $132.20 4.16%
Nvidia Corp. (NVDA) $183.61 3.93%
Synopsys Inc. (SNPS) $514.79 3.89%
Workday, Inc. (WDAY) $242.56 3.83%
Asml Holdings N.V. (ASML) $957.37 2.71%
KLA-Tencor Corp. (KLAC) $1,071.25 2.53%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $12.80 -10.55%
JD.com, Inc. (JD) $33.93 -3.33%
Intel Corp. (INTC) $28.76 -2.77%
Wynn Resorts Ltd. (WYNN) $126.05 -2.68%
PACCAR Inc. (PCAR) $97.27 -2.20%
Incyte Corp. (INCY) $84.72 -2.09%
Idexx Laboratories Inc. (IDXX) $644.36 -1.80%
Meta Platforms Inc. (META) $765.16 -1.70%
Amazon.Com Inc. (AMZN) $227.63 -1.66%
Gilead Sciences Inc. (GILD) $112.49 -1.40%
20.45 (0.22%)
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