The Dow Jones Industrial Average and the S&P 500 on Monday picked up where they left off last week, riding gains to new record highs after closing in record territory on Friday.
Shortly after Monday’s opening bell, the Dow was up over 200 points and the S&P 500 was up over 20 points. As of 10:26 p.m. ET, the Dow was at and the S&P 500 was up.
up 242 points to 38,105, while the S&P 500 was up 24 points to 4,864.
As was the case during last week’s record closings, the Nasdaq Composite was the leading indices percentage-wise. The Nasdaq was up 98.70 to 15,409 (0.64%).
The rally was a continuation of last week’s rally that pushed Wall Street into bull market territory. Signs of easing inflation and possible interest rate cuts by the Federal Reserve later this year have investors jumping into action.
“It’s almost like a fear of missing out,” Brian Price, head of investment management at Commonwealth Financial, told CNBC. “We had a little bit of volatility to start the year as investors maybe rebalance portfolios and look to realize some gains. But now, it just seems like we’re resuming the trend that was clearly in place.”
— Check back for updates throughout the trading day
