S&P, Nasdaq rally to fresh all-time highs
Boeing Co.'s 777X unlikely to receive certification before mid-2023 at earliest
S&P 500, Nasdaq hit all-time highs
FOX Business’ Stuart Varney and Susan Li break down the market open as the week begins.
The S&P 500 and the Nasdaq Composite rallied to record highs Monday while the Dow fell further from its own all-time peak as growth stocks outperformed.
The Nasdaq climbed 0.98% while the S&P advanced 0.23%. The Dow, meanwhile, declined 151 points, or 0.44%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43870.35 | +461.88 | +1.06% |
| SP500 | S&P 500 | 5948.71 | +31.60 | +0.53% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18972.420086 | +6.28 | +0.03% |
The mixed session came after President Biden said Sunday he would sign the $953 billion infrastructure deal reached by a bipartisan group of senators if it were to reach his desk without the separate Democrat-backed reconciliation bill that would provide funding for human infrastructure.
In stocks, big-cap technology shares led the advance with Apple Inc., Amazon Inc. and Nvidia Corp. among the top performers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 228.52 | -0.48 | -0.21% |
| AMZN | AMAZON.COM INC. | 198.38 | -4.50 | -2.22% |
| NVDA | NVIDIA CORP. | 146.67 | +0.78 | +0.53% |
Dow Component Boeing Co.’s 777X aircraft is unlikely to receive Federal Aviation Administration certification before mid-2023 at the earliest, the agency said Sunday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 143.41 | -2.67 | -1.83% |
| TSLA | TESLA INC. | 339.64 | -2.39 | -0.70% |
Meanwhile, Tesla Inc. will "recall" 300,000 China-made and imported Model 3 and Model Y vehicles to update its assisted driving software. Car owners will not be required to bring their vehicles into the dealership as the upgrades can be done online.
Carnival Corp. shares were pressured after the cruise ship operator unveiled plans to sell up to $500 million in new common stock. Elsewhere in the space, Royal Caribbean Cruises Ltd. said two passengers on its Adventure of the Seas ship tested positive for COVID-19. Rival Norwegian Cruise Line Holdings Ltd. fell in sympathy.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CCL | CARNIVAL CORP. | 25.35 | +0.27 | +1.08% |
| RCL | ROYAL CARIBBEAN GROUP | 237.59 | +1.70 | +0.72% |
| NCLH | NORWEGIAN CRUISE LINE HOLDINGS LTD. | 26.73 | +0.68 | +2.61% |
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Virgin Galactic Holdings Inc. continued higher after gaining 39% on Friday after the company received regulatory approval to fly passengers into space.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SPCE | VIRGIN GALACTIC HOLDINGS INC. | 6.72 | +0.04 | +0.60% |
Crypto-related names, including Coinbase Global Inc. and MicroStrategy Inc., were bouncing back as bitcoin rallied above $34,000 a coin.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COIN | COINBASE GLOBAL INC. | 295.23 | -24.78 | -7.74% |
| BITQ | BITWISE CRYPTO INDUSTRY INNOVATORS ETF - USD DIS | 19.70 | -1.06 | -5.11% |
In commodities, West Texas Intermediate crude oil slipped $1.14 to $72.91 a barrel and gold ticked up $3 to $1,779.60 an ounce.
Overseas markets were weaker.
In Europe, France’s CAC 40 lost 0.98%, Britain's FTSE 100 fell 0.88% and Germany’s DAX 30 was down 0.34%.
Asian markets were slightly lower across the board, with Hong Kong’s Hang Seng index losing 0.07%, Japan’s Nikkei 225 sliding 0.06% and China’s Shanghai Composite declining 0.03%.