Nasdaq futures achieved a record high on Monday, marking the continuation of a three-day upward trend. The tech-heavy Nasdaq Composite concluded at 22,788.98, reflecting an increase of 0.7% or 157.50 points, propelled by the robust performance of major technology players. This represented a new closing high for the index. At the intraday peak, the technology-focused index achieved a new all-time high of 22,801.90.

The recent reduction in the Fed rate and signals pointing towards additional policy easing have enhanced investor confidence in riskier assets such as equities. A significant AI agreement has bolstered the confidence of market participants. All three major stock indexes concluded the trading session in positive territory. The Dow Jones Industrial Average rose 0.1% to close at 46,381.54, achieving a new closing high for the index. It is noteworthy that 12 components of the 30-stock index concluded in positive territory, whereas 18 ended in negative territory.

At the intraday peak, the blue-chip index achieved a new all-time high of 46,447.13. The S&P 500 increased by 0.4%, concluding the session at 6,693.75. This represented the benchmark’s latest closing peak. At the intraday peak, the benchmark index achieved a new all-time high of 6,698.88. Among the 11 broad sectors of the market index, nine concluded in negative territory, whereas two remained in positive territory. The Technology Select Sector SPDR gained 1.3%, whereas the Energy Select Sector SPDR and the Consumer Staples Select Sector SPDR experienced declines of 1.8% and 1%, respectively.

The fear gauge, the CBOE Volatility Index, experienced an increase of 4.2%, reaching a level of 16.10. On Monday, trading volume reached 18.65 billion shares, surpassing the 20-session average of 17.50 billion shares. On the NYSE, the ratio of advancers to decliners stood at 1.22-to-1. On the Nasdaq, advancing issues outnumbered declining ones by a ratio of 1.38 to 1.