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The S&P 500 rose Monday, as traders looked to build on the sharp gains seen last week following the Federal Reserve’s interest rate cut.
The Dow Jones Industrials gained 38.18 points to 42,101.54, yet another record high.
The much-broader index gained 9.19 points to 5,711.74.
The NASDAQ Composite acquired 21.24 points to 17,969.36.
The moves come after a winning week on Wall Street that centered around the Federal Reserve’s decision to lower interest rates by 50 basis points, its first cut in four years. Despite some choppiness following the initial announcement, stocks rallied in the days following.
Investors parsed fresh economic data on Monday, including a 15-month low reading for PMI manufacturing activity in the U.S. for August.
Prices for the 10-year Treasury eased back, lifting yields to 3.75% from Friday’s 3.74%. Treasury prices and yields move in opposite directions.
Oil prices dipped 92 cents at $70.08 U.S. a barrel.
Gold prices fell $7.40 to $2,653.60 U.S. an ounce
