U.S. Stocks Extend Winning Streak
U.S. stocks extend their winning streak for a sixth consecutive session, driven by positive comments from the Federal Reserve and a promising jobs report.
U.S. stocks continued their upward trend on Monday, marking a sixth consecutive session of gains and building upon the positive momentum from last week, which was the best week of 2023.
The S&P 500, as per preliminary data from FactSet, gained 7.65 points or 0.2%, closing at 4,365.99. This winning streak of six sessions is the longest since June.
The Dow Jones Industrial Average also extended its winning streak to six days, the longest it has been since July, as it gained 34.54 points or 0.1% to close at 34,095.86.
In addition, the Nasdaq Composite rose by 40.50 points or 0.3% to reach 13,518.78. This marked the first time since January that the Nasdaq has risen for seven consecutive days.
Investor Sentiment Strengthened
Investors were encouraged to reengage with the stock market following positive comments from the Federal Reserve and a promising Friday jobs report. This led to last week's remarkable surge, which represented the biggest advance of the year for all three indexes.
The stock market's persistent upward movement demonstrates its resilience and provides further signs of recovery as investor sentiment continues to strengthen.