Nasdaq, gold scale all-time highs amid cautious Fed comments
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The Nasdaq closed at a record high on Monday and gold jumped to an all-time high as investors weighed hawkish statements from the Federal Reserve against evidence of cooling U.S. inflation. The tech-heavy Nasdaq led the three major U.S. stock indexes with a boost from chips, as Nvidia Corp advanced ahead of its closely watched earnings report, expected on Wednesday. The S&P 500 finished the session with a modest gain, while the blue-chip Dow dipped below 40,000 after closing on Friday above that level for the first time. "The Nasdaq is being led higher by Nvidia, but otherwise they're a little bit stalled," said Jay Hatfield, portfolio manager at InfraCap in New York. "The S&P 500 is 11% above its 200-day moving average, which is pretty extended." "We're in a range-bound market and Nvidia will dominate global equity trading this week." Comments from Fed officials have reflected the U.S. cen...