Stocks eked out narrow gains Monday to build last week’s strong rally, with the NASDAQ Composite notching its longest positive streak since January.
The Dow Jones Industrials held onto gains of 34.54 points to close Monday at 34,095.86.
The much-broader index gained 7.64 points to 4,395.68.
The NASDAQ hiked 40.5 points to 13,518.78.
The tech-heavy index notched seven days of wins for the first time since January while the Dow and S&P rose for sixth straight day, the 30-stock index for the first time since July, the much-broader index since June.
Nvidia added 1.7%, boosted by optimism from Bank of America ahead of its earnings report. Bumble shares slipped 4.4% after announcing its CEO will step down in January. Shares of SolarEdge Technologies tumbled 5.1% on the back of a downgrade from Wells Fargo.
Stocks are coming off their best week of 2023. The Dow notched its biggest weekly advance since October 2022, while the S&P and NASDAQ notched their best weeks since November 2022. A soft monthly jobs report also drove bond yields lower, giving a boost to equities.
Earnings season is winding down, with more than 400 S&P companies having already reported quarterly financial results. Investors this week await updates from Walt Disney, Wynn and MGM Resorts, Occidental Petroleum and D.R. Horton.
Prices for the 10-year Treasury swooned, raising yields to 4.65% from Friday’s 4.57%. Treasury prices and yields move in opposite directions.
Oil prices grew 33 cents to $80.84 U.S. a barrel.
Gold prices skidded 14 dollars to $1,985.20.