The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.36%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.78%. December E-mini S&P futures (ESZ25) rose +0.37%, and December E-mini Nasdaq futures (NQZ25) rose +0.75%.
Stock indexes mainly settled higher on Monday, with the Nasdaq 100 posting a new all-time high. Advanced Micro Devices surged more than 23% to lead chipmakers higher after its deal with OpenAI on AI infrastructure, worth tens of billions of dollars, added fuel to the AI frenzy. Recent optimism that growth in the AI sector and spending on artificial intelligence will translate into corporate profits is a major bullish factor for stocks. Stocks are also underpinned by hopes that a resilient US economy and additional Fed easing will continue to support the economy.
