IXIC: Nasdaq Pops 1% to 6th All-Time High in a Row, S&P 500 Logs 30th Record of Year

Stocks are ripping across the board and investors can’t get enough. Microsoft, Apple, Nvidia pushed to record highs Monday.

• The Nasdaq Composite IXIC is on a roll. The tech-heavy index is making history with a sixth straight closing record after ripping through last week and Monday, clocking out for each session with a new all-time high. Technology shares are the biggest driver of gains broadly in the stock market and investors are happy to bid higher and higher in the pursuit of bargains.
• The world’s top three companies, ranked by market cap, continued their journey in the land of records. Shares of Microsoft MSFT added 1.3% on the day, solidifying the company’s number one spot with a valuation of $3.33 trillion. iPhone maker Apple AAPL, the runner up, jumped 2% to log out at a record-high valuation of $3.32 trillion. Chip maker Nvidia NVDA popped to an intraday record but later unwound the gains and closed at a loss of 0.7%.
• It’s the year of the records for yet another Wall Street darling. The broad-based S&P 500 peaked at a new all-time high Monday — its 30th record of 2024 — after it gained 0.7%. The equity average snapped a four-day record-setting rally on Friday, two days after the Federal Reserve shook the market landscape with its decision to hold interest rates steady at a 23-year high.