S&P, Nasdaq rally to fresh all-time highs

Boeing Co.'s 777X unlikely to receive certification before mid-2023 at earliest

The S&P 500 and the Nasdaq Composite rallied to record highs Monday while the Dow fell further from its own all-time peak as growth stocks outperformed. 

The Nasdaq climbed 0.98% while the S&P advanced 0.23%. The Dow, meanwhile, declined 151 points, or 0.44%.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35116.4 +278.24 +0.80%
SP500 S&P 500 4423.15 +35.99 +0.82%
I:COMP NASDAQ COMPOSITE INDEX 14761.294551 +80.23 +0.55%

The mixed session came after President Biden said Sunday he would sign the $953 billion infrastructure deal reached by a bipartisan group of senators if it were to reach his desk without the separate Democrat-backed reconciliation bill that would provide funding for human infrastructure.

In stocks, big-cap technology shares led the advance with Apple Inc., Amazon Inc. and Nvidia Corp. among the top performers. 

Ticker Security Last Change Change %
AAPL APPLE, INC. 147.36 +1.84 +1.26%
AMZN AMAZON.COM, INC. 3,366.24 +34.76 +1.04%
NVDA NVIDIA CORP. 198.15 +0.65 +0.33%

Dow Component Boeing Co.’s 777X aircraft is unlikely to receive Federal Aviation Administration certification before mid-2023 at the earliest, the agency said Sunday. 

Ticker Security Last Change Change %
BA THE BOEING CO. 229.09 +3.75 +1.66%
TSLA TESLA, INC. 709.74 +0.07 +0.01%

Meanwhile, Tesla Inc. will "recall" 300,000 China-made and imported Model 3 and Model Y vehicles to update its assisted driving software. Car owners will not be required to bring their vehicles into the dealership as the upgrades can be done online.

Carnival Corp. shares were pressured after the cruise ship operator unveiled plans to sell up to $500 million in new common stock. Elsewhere in the space, Royal Caribbean Cruises Ltd. said two passengers on its Adventure of the Seas ship tested positive for COVID-19. Rival Norwegian Cruise Line Holdings Ltd. fell in sympathy. 

Ticker Security Last Change Change %
CCL CARNIVAL CORP. 21.43 -0.03 -0.14%
RCL ROYAL CARIBBEAN GROUP 74.49 -0.99 -1.31%
NCLH NORWEGIAN CRUISE LINE HOLDINGS LTD. 23.19 -0.39 -1.65%

CRYPTOS REBOUND DESPITE BINANCE SNUB

Virgin Galactic Holdings Inc. continued higher after gaining 39% on Friday after the company received regulatory approval to fly passengers into space. 

Ticker Security Last Change Change %
SPCE VIRGIN GALACTIC HOLDINGS INC. 31.40 -0.47 -1.47%

Crypto-related names, including Coinbase Global Inc. and MicroStrategy Inc., were bouncing back as bitcoin rallied above $34,000 a coin. 

Ticker Security Last Change Change %
COIN COINBASE GLOBAL, INC. 230.18 -5.22 -2.22%
BITQ EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E 22.58 -0.24 -1.06%

In commodities, West Texas Intermediate crude oil slipped $1.14 to $72.91 a barrel and gold ticked up $3 to $1,779.60 an ounce.

Overseas markets were weaker. 

In Europe, France’s CAC 40 lost 0.98%, Britain's FTSE 100 fell 0.88% and Germany’s DAX 30 was down 0.34%.  

Asian markets were slightly lower across the board, with Hong Kong’s Hang Seng index losing 0.07%, Japan’s Nikkei 225 sliding 0.06% and China’s Shanghai Composite declining 0.03%.