Apple’s Record High Propels S&P 500 & Nasdaq to Climb
In what has been a steady climb for the S&P 500 and Nasdaq over the past few weeks, the two indexes were propelled to fresh nine-month highs on Monday thanks to a surge in Apple’s stock price. The tech giant hit a record high, contributing to gains in the overall market.
Apple’s gain in stock price comes after investors expressed confidence in the company’s ability to continue growth, despite concerns in the technology sector in recent months. This rally in Apple’s stock price helped push the S&P 500 up by 0.5% and the Nasdaq up by 0.9%.
It wasn’t all smooth sailing for the stock market, however, as concerns arose around recent job reports and PMIs, or purchasing manager indexes. Futures for the market paused as investors waited to see how these reports would affect the market moving forward.
Overall, the market remained optimistic on Monday, with many investors staying put and taking advantage of Apple’s impressive gains. As the week continues, investors will be closely monitoring job reports and other economic indicators to see how the market will continue to progress.