The S&P 500 rose on Monday, with tech shares kicking off the week on solid footing as investors awaited a key Federal Reserve meeting.
The Dow Jones Industrial index shied away 8.95 points to 43,819.11, hoping to end its losing streak of seven straight sessions.
The much-broader index recovered 21.71 points to 6,072.82
The tech-heavy NASDAQ spiked 174.19 points to 20,104.12.
The broad market index traded 0.3% higher, and the NASDAQ advanced 0.5%. The Dow hovered around the flatline. The Dow entered the session riding a seven-day losing streak. Noticeably absent from the NASDAQ’s trend higher was artificial intelligence darling Nvidia, which pulled back 2%. Shares of Apple, Tesla and Google-parent Alphabet all traded marginally higher.
The Fed set to begin its two-day policy meeting Tuesday. It’s expected to cut rates by a quarter-point at its conclusion on Wednesday. The key for investors will be forward guidance on future policy moves.
The stock market is coming off a sluggish week. The Dow lost 1.8% last week and has lost ground in each of the last seven sessions. The S&P 500 dipped 0.6%, and has retreated in four of the past five sessions. The NASDAQ outperformed, grinding out a gain of 0.3% for the week.
Prices for the 10-year Treasury sagged, raising yields to 4.41% from Friday’s 4.39%. Treasury prices and yields move in opposite directions.
Oil prices dropped 76 cents to $70.53 U.S. a barrel.
Prices for gold settled $5.90 an ounce to $2,669.90 U.S.
