The S&P 500 and Nasdaq Composite closed at record highs on Monday, spurred by optimism about increased mergers and acquisitions activity after two major deals were announced.
The broad market S&P 500 gained 0.36% to end the day at 6,740.28, while the tech-heavy Nasdaq advanced 0.71% to finish at 22,941.67. The Dow Jones Industrial Average, however, fell 63.31 points, or 0.14%, to close at 46,694.97, weighed down by a decline in shares of Sherwin-Williams and Home Depot.
The S&P 500 and Nasdaq saw a boost from AMD jumping almost 24% after the company reached a deal with Sam Altman's AI leader that could ultimately end up giving the ChatGPT company a 10% stake in the chipmaker. AMD will use certain graphics processing units rolled out over multiple years. Nvidia, AMD's main competitor in graphics processors, came under pressure following that announcement.
Source: CNBC
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