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Barchart
Barchart
Rich Asplund

Stocks Finish Higher on Strength in Mega-Cap Tech Stocks

ECB United States Inflation Morgan Stanley

The S&P 500 Index ($SPX) (SPY) Monday closed up +0.27%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.66%.

Stock indexes on Monday posted moderate gains. Strength in mega-cap tech stocks boosted the broader market on Monday.  Higher bond yields on Monday limited gains in stocks as the 10-year T-note yield climbed to a 4-week high.  Also, concern that the economy is losing momentum is negative for stocks after Monday’s US economic news showed the Jun ISM manufacturing index and May construction spending unexpectedly declined.

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