Highlights
Technology shares, especially AI stocks, remained well-bid after Friday's rally to underpin equities again on Monday. The Dow Jones industrial average was flat, the S&P 500 rose 0.5 percent and the Nasdaq was up 0.9 percent. US Treasury yields and the dollar declined while oil and gold prices rose.
Positive comments from OpenAI on strong growth for ChatGPT. Oracle was another big winner on the AI trade to boost the sector. Risk appetite also got a boost from the day's sole US indicator showing US consumer inflation expectations down in the latest month.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.