NEW YORK, Jan. 22 (Xinhua) -- U.S. stocks ended higher on Monday, as the S&P 500 hit a record-high close for a second straight session.
The Dow Jones Industrial Average rose 138.01 points, or 0.36 percent, to 38,001.81, for the first time ever. The S&P 500 added 10.62 points, or 0.22 percent, to 4,850.43. The Nasdaq Composite Index increased 49.32 points, or 0.32 percent, to 15,360.29.
Eight of the 11 primary S&P 500 sectors ended in green, with industrials and real estate leading the gainers by adding 0.74 percent and 0.44 percent, respectively. Meanwhile, consumer discretionary and utilities led the laggards by dropping 0.52 percent respectively.
The yield on the 10-year U.S. Treasury note edged lower, settling at 4.093 percent. Traders scaled back their expectations of an at least 25-basis-point rate cut first arriving in March, with focus now more on May, with a 53 percent chance, according to the CME Group's FedWatch Tool.
In individual stocks, Tech stocks climbed the Wall Street ladder on Monday, with Apple taking a firm grasp on a 1-percent gain. Biopharmaceutical Amgen scaled new peaks, reaching an all-time high before planting its flag slightly below the summit. Goldman Sachs, the financial titan, smashed through its 52-week barrier and added more than 1 percent to its coffers. Chipmaker Nvidia and social media platform Meta also touched the sky with record highs, adding fuel to the market's rocket.
Boeing came under more pressure after the U.S. Federal Aviation Administration urged airlines to carry out checks on another class of 737 jet that uses the same door plugs as on the Max 9 that suffered a midair blowout. Archer-Daniels-Midland shares dropped after placing its chief financial officer on administrative leave for an investigation and cutting its full-year profit forecast.
Investors are now keenly waiting for major companies like Netflix, Tesla, Abbott Laboratories, Intel, and Johnson & Johnson to report their earnings this week. Their performance will provide valuable clues about the overall health of the corporate sector and potentially influence the market's trajectory.
"The earnings and guidance are going to be crucial to continue underpinning the mega tech force in the market," said Quincy Krosby, chief global strategist at LPL Financial. ■
