The Nasdaq Composite and S&P 500 advanced to records on Monday, powered by gains in technology stocks.
The tech-heavy Nasdaq climbed 140.12 points, or 1%, to close at 14500.51. The S&P ticked up 9.91, or 0.2%, to 4290.61, adding to its gains after the broad-based index posted its biggest weekly advance since February last week.
The Dow Jones Industrial Average fell 150.57, or 0.4%, to 34283.27, weighed down by losses at Boeing and Chevron .
Shares have marched higher since mid-May, boosted by a robust economic recovery, the prospect of further fiscal stimulus and low bond yields that prompted investors to snap up stocks. Some investors are nonetheless concerned the market could hit a rough patch due to signs that growth has peaked as well as jitters over inflation and monetary policy.
“This recovery still has a long way to go and there is still strong growth,” said Frank Øland, chief strategist at Danske Bank. “But of course you’re probably past the peak growth momentum in the U.S., so data will begin to look less impressive, and that could be a concern.”
