The S&P 500 reached a new record high on Monday, closing up 0.77% at 5,473.23, as Wall Street continued last week’s upward momentum.

The Nasdaq Composite rose 0.95% to 17,857.02, and the Dow Jones Industrial Average gained 188.94 points, or 0.49%, to 38,778.10, ending a four-day losing streak.

Megacap technology stocks significantly contributed to the S&P 500’s rally, with the information technology sector rising 1.2%.

Microsoft climbed over 1%, Apple increased by about 2%, and Alphabet, Amazon, and Meta Platforms also saw gains, NBC News reported.

Nvidia hit a fresh all-time high before closing slightly lower, while Broadcom shares surged 5.4%, continuing last week’s 23% advance.

Written by B.C. Begley