Overview
- The Dow, S&P 500 and Nasdaq closed at fresh highs for a third session, extending a tech-led upswing powered by megacaps.
- Nvidia jumped about 5% after a $1 billion Nokia stake and plans to build seven supercomputers for the U.S. Energy Department, leaving the chipmaker near a $5 trillion valuation.
- Microsoft gained roughly 2% after OpenAI completed a restructuring that gives the software giant a 27% stake, with results from Microsoft, Alphabet and Meta due Wednesday followed by Apple and Amazon on Thursday.
- Futures pricing points to a 25-basis-point Fed cut at the end of the two-day meeting, alongside softer dollar moves, weaker gold and lower crude prices.
- Global breadth showed pockets of strength: Spain’s Ibex hit record levels and sits up about 38% year to date on banking gains, Mexico’s IPC rose on earnings from Televisa, Cemex and Carso, and sentiment also reflected hopes ahead of a Trump–Xi meeting this week.