S&P 500, Nasdaq close at record highs as Wall Street looks for strong finish to August; European markets inch higher after euro zone data disappoints
The S&P 500 set another record high on Monday as the stock market continued to rise in the final days of August.
The broad market index gained 0.43% to set a new record high 4,528.79, while the Nasdaq Composite traded up 0.90% for its own all-time high 15,265.89. The Dow Jones Industrial Average underperformed, losing 55.96 points or 0.16% to close at 35,399.84.
Shares of Affirm Holdings surged more than 46% after the buy now, pay later company announced a partnership with Amazon on Friday. Amazon’s stock rose about 2%.
Shares of Paypal, rose 3.6% after CNBC reported that the company is exploring a stock-trading platform for its U.S. customers. Discount brokerage Robinhood, however, saw its stock fall 6.9% after SEC Chair Gary Gensler told Barron’s that banning the controversial payment-for-order-flow business model was “on the table.”
European stocks posted mild gains on Monday, dismissive of broadly positive trade elsewhere in global markets.
The pan-European Stoxx 600 index rose less than 0.1% as market sentiment turned sour after data showed euro zone economic sentiment eased more than expected in August from a record high in July. The European Commission’s economic sentiment index fell after a marked decline in optimism in France and the Netherlands.
Source: CNBC, Investing.com