Posted 2/12/2024, 7:35:00 PM
Stocks Mixed as Dow Hits Record High But Tech Drops; Key Economic Data, Fed Speeches Ahead
- US stocks ended mixed on Monday after the S&P 500 closed at a record high last week. The Dow hit a fresh record while the Nasdaq fell.
- Key events this week include January's consumer price index (CPI) reading on Tuesday and more Fed speakers discussing potential interest rate cuts.
- Shares of chipmakers Nvidia and Arm extended rallies to new highs. Nvidia briefly surpassed Amazon and Alphabet in market cap.
- Oil producer Diamondback Energy announced a $26 billion acquisition of Endeavor Energy, sending its stock up over 8%.
- The S&P 500 opened flat on Monday following last week's record-setting performance that brought the index above 5,000 for the first time.