The Nasdaq nabbed a record close on Monday, as strength in tech stocks helped Wall Street brush off another rise in Treasury yields. The tech-heavy index added 286 points for its fourth straight win, while the S&P 500 finished comfortably higher, and the Dow reversed midday losses to finish in the black.
Investors also unpacked fresh services data, with the Institute for Supply Management’s (ISM) services purchasing managers’ index (PMI) coming in at 54.9 for September, roughly in line with expectations but down from August. Global markets were in focus as well, with Brazilian stocks surging following the first round of the country’s presidential election.
Oil Prices Fall as G7 Release Plans Stay in Focus
The Group of Seven (G7) plans to release 100 million barrels over the next four months, announced Friday, remained in focus to start the week. Meanwhile, President Trump ruled out a diesel export ban. November-dated West Texas Intermediate (WTI) futures were last seen down 1.8% at $89.43 per barrel.
Gold prices were little changed amid strength in the U.S. dollar. December-dated gold futures fell 0.02% to $4,161.50 per ounce.
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