On Monday, the Dow Jones Industrial Average experienced a surge, indicating its longest winning streak since February 2017, setting the stage for a busy week of significant earnings reports and a crucial policy decision from the Federal Reserve.

The 30-stock Dow climbed by 187 points or 0.54%, marking its 11th consecutive day of gains. Meanwhile, the S&P 500 saw a rise of 0.44%, and the Nasdaq Composite recorded a more modest increase of 0.16%.

Driving the gains in the S&P 500 were energy stocks, which showed a remarkable increase of over 2%, following a rise in oil and gasoline futures to a three-month high on Monday.

Notably, Chevron’s shares rose by over 2% as well, thanks to its report of preliminary second-quarter adjusted earnings on Sunday, surpassing analysts’ estimates, CNBC reported.

Impressively, the stock market maintained its upward trajectory, even after the Dow Jones Industrial Average had advanced for ten consecutive days.

On Friday, the blue-chip Dow managed to secure a mere 2.51-point gain, setting a new record for its longest winning streak since 2017.

Over the same period, the S&P 500 concluded the week with a 0.7% increase, while the Nasdaq Composite experienced a slight dip of 0.6%.

Written by staff