The S&P 500 traded 0.44% below its Aug. 13 record close of 7,798.99 on Monday, as an artificial-intelligence-driven rally in tech stocks lifted major indexes out of a recent slump. The Nasdaq Composite already pushed into record territory, but about 60% of S&P 500 stocks remain more than 20% below their own all-time highs.
The S&P 500 moved to the edge of a new record high on Monday, trading 0.44% below its Aug. 13 closing peak of 7,798.99, according to Dow Jones Market Data. Technology and artificial-intelligence-linked stocks drove the advance, pulling major indexes out of a recent funk.
The Nasdaq Composite already crossed its prior peak of 27,093.90, set in early June. It traded at 27,122.09, up 2.26% on the day. Chipmaker AMD jumped 9.95%. The Dow Jones Industrial Average added 0.71% to 52,048.83. The S&P 500 itself traded at 7,764.70, up 1.49%.
Yet the rally isn't as broad as the headline numbers suggest. About 60% of the stocks in the S&P 500 are down more than 20% from their own all-time highs, pointing to gains concentrated in a narrow group of technology and AI-related names rather than the broader market.
Energy stocks lagged behind, as crude oil fell 4.99% and Marathon Petroleum dropped 5.30%. The CBOE Volatility Index rose 0.41% to 14.87. The 10-year Treasury yield stood at 4.957%.
Source: MarketWatch (snippet-based)
Trading involves risk.
Risk Disclaimer
