US stocks rallied on Monday (September 22nd) as Wall Street extended its record high, driven by optimism for megacap Big Tech companies. The S&P 500 rose 0.4%, the Nasdaq gained 0.5%, and the Dow Jones Industrial Average rose 66 points, with all three indexes closing at new highs.
Nvidia jumped 4% after announcing an investment of up to $100 billion in OpenAI, lifting the S&P 500 and Nasdaq, while Oracle surged 6.3% following a leadership change and continued enthusiasm for AI. Apple shares rose 4.3%, supported by strong demand for the iPhone 17, and Tesla rose 1.9%, reaching a 2025 high as investors anticipated new products and advances in self-driving technology.
Conversely, Kenvue fell 7.5% after President Trump suggested a link between Tylenol use during pregnancy and autism, a claim denied by the company and medical experts. Market participants remain focused on the Federal Reserve following its 25 basis point interest rate cut last week, with officials emphasizing that controlling inflation remains a priority over further easing. (alg)
Source: Trading Economics
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