The S&P 500 and Nasdaq reached new all-time highs on Monday, with the S&P 500 closing at 7,412.84, up 0.19%, and the Nasdaq at 26,274.13, up 0.10%. However, only 37.8% of stocks advanced, highlighting a narrow market rally driven by technology and energy sectors. Energy stocks led gains with a 2.63% increase, while Communication Services fell 2.33%, impacted by Alphabet's 2.55% drop.
Oil prices rose as Brent crude closed near $103 and WTI at $98.07, following Trump's rejection of Iran's peace proposal. The 10-year U.S. Treasury yield increased to 4.41%, and the VIX index rose over 7%, indicating heightened market volatility. Bitcoin traded between $81,000 and $82,000, facing resistance at the 200-day moving average. GitLab announced a strategic shift towards Agentic AI, reflecting industry-wide pressures from AI advancements.
Today's focus is on the U.S. April CPI data release, which could influence market dynamics. A higher-than-expected core CPI may pressure equities and Bitcoin, while a moderate reading could revive rate cut expectations and support tech stocks. Additionally, Trump's visit to Beijing could impact semiconductor and AI sectors if significant agreements are reached.
S&P 500 and Nasdaq Hit New Highs Amid Narrow Market Gains
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