The S&P 500 saw another intraday record high, though
The Dow and S&P 500 slipped on Monday, but the latter saw another intraday record high following news that Nvidia's (NVDA) competitor Super Micro Computer (SMCI) will become one of its components later this month. The Nasdaq settled lower as well amid Apple's (AAPL) antitrust woes in Europe, though it remains near its recent peak. Investors seem to be in a holding pattern ahead of this week's jobs data and testimony from Federal Reserve Chairman Jerome Powell before Congress.
Continue reading for more on today's market, including:
- Bulls responded to Sea's first annual profit.
- Lyft stock could make a solid contrarian play.
- Plus, SPX newbies hitting records; revised offer for Macy's; one chip stock to rule them all.
5 Things to Know Today
- The European Union (EU) today fined Apple nearly $2 billion for unfairly favoring its own music streaming service, breaking the bloc's competition laws. (MarketWatch)
- The Supreme Court reversed a Colorado court ruling that barred former President Donald Trump from appearing on its Republican presidential primary ballot. (CNBC)
- These 2 SPX additions already nabbed all-time highs.
- Revised buyout offer gave Macy's stock a nice boost.
- Semiconductor MVP gains popularity with call traders.
More Record Highs for Gold Prices
Oil prices fell on Monday, after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) extended voluntary production cuts for the second quarter in a largely anticipated move. April-dated West Texas Intermediate (WTI) crude dropped $1.23, or 1.5%, to finish at $78.74 per barrel.
Meanwhile, gold prices settled at a fresh record high amid hopes the Federal Reserve will begin cutting interest rates in the second half of 2024. April-dated gold rose $30.60, or 1.6%, to settle at $2,126.30 per ounce.