Gains in big technology companies led stocks broadly higher on Wall Street as traders welcomed some easing in long-term bond yields.
The S&P 500 index rose 0.7% Monday while the tech-heavy Nasdaq climbed 1.2%. Amazon, Apple, and Microsoft all made solid gains.
Kansas City Southern jumped 11.1% after a Canadian railroad announced it would buy the company for $25 billion. The yield on the 10-year Treasury note fell after trading as high as 1.74% last week. A steady rise in bond yields over the past month has been luring investors away from high-flying tech stocks.
On Monday:
The S&P 500 rose 27.49 points, or 0.7%, to 3,940.59.
The Dow Jones Industrial Average rose 103.23 points, or 0.3%, to 32,371.20.
The Nasdaq rose 162.31 points, or 1.2%, to 13,377.54.
The Russell 2000 index of smaller companies fell 20.70 points, or 0.9% to 2,266.84.
For the year:
The S&P 500 is up 184.52 points, or 4.9%.
The Dow is up 2,124.72 points, or 6.9%.
The Nasdaq is up 489.26 points, or 3.8%.
The Russell 2000 is up 291.99 points, or 14.8%.
Before you consider Kansas City Southern, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kansas City Southern wasn't on the list.
While Kansas City Southern currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
