The S&P 500 Index ($SPX) (SPY) closed up by +0.66% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.87%. December E-mini S&P futures (ESZ26) rose +0.67%, and December E-mini Nasdaq futures (NQZ26) rose +0.88%.
Stock indexes settled higher on Monday, with the S&P 500 climbing to a 1.5-month high and the Nasdaq 100 climbing to a new record high. Strength in the Magnificent Seven technology stocks on Monday supported gains in the broader market. Also, M&A activity was supportive of stocks after Schneider Electric agreed to buy PTC Inc. for $22.6 billion, and C.H. Robinson Worldwide agreed to purchase RXO for $5.8 billion. In addition, Monday’s -1% decline in WTI crude oil lowered inflation expectations and improved market sentiment, boosting stocks.
