S&P 500, Nasdaq hit record highs

Gasoline prices jumped after Hurricane Ida made landfall in Louisiana

U.S. stock indexes ended mixed Monday as both the S&P 500 and Nasdaq Composite ticked to all-time highs. 

The S&P 500 gained 0.43% and the Nasdaq advanced 0.9%, while the Dow Jones Industrial Average fell 55 points, or 0.16%. The selling pushed the Dow about 225 points below its own record peak. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35615.04 +157.73 +0.44%
SP500 S&P 500 4539.79 +20.16 +0.45%
I:COMP NASDAQ COMPOSITE INDEX 15170.001877 +40.91 +0.27%

WALL STREET REACTS TO FED CHAIRMAN'S SPEECH ON TAPERING, RATE HIKES

In stocks, mega-cap tech names including Microsoft Corp., Apple Inc. and Alphabet Inc. were all flirting with record highs after investors cheered the likelihood that interest rates would remain near zero for the foreseeable future. 

Ticker Security Last Change Change %
MSFT MICROSOFT CORP. 308.20 -0.03 -0.01%
AAPL APPLE, INC. 149.23 +0.47 +0.32%
GOOGL ALPHABET, INC. 2,850.38 -14.36 -0.50%

ExxonMobil Corp. and Marathon Petroleum Co. were among the oil companies in focus after 95% of oil and gas production in the Gulf of Mexico was halted due to Hurricane Ida, which made landfall in Louisiana as a Category 4 storm. West Texas Intermediate crude oil was trading down 33 cents at $68.41 a barrel while RBOB gasoline was up 4.17 cents at $2.3159 per gallon.

Ticker Security Last Change Change %
XOM EXXON MOBIL CORP. 63.67 +0.16 +0.25%
MRO MARATHON OIL CORP. 16.39 +0.01 +0.03%

Elsewhere, Affirm Holdings Inc. shares were on track for their best day ever after the "buy now, pay later" company said its service will be made available to some Amazon.com Inc. customers. 

Ticker Security Last Change Change %
AFRM AFFIRM HOLDINGS 153.27 -2.08 -1.34%
AMZN AMAZON.COM, INC. 3,435.11 -9.04 -0.26%

Shares of satellite services provider Globalstar Inc. soared after a report said Apple’s new iPhone, which will likely debut in September, will have the ability to use satellite communications. 

Ticker Security Last Change Change %
GSAT GLOBALSTAR INC. 1.66 +0.08 +4.83%

Meanwhile, an additional 1 million shots of Moderna Inc.’s COVID-19 vaccine were put on hold in Japan after more contaminated batches were discovered and two people died. In total, about 2.6 million doses of the vaccine have been suspended in the country. 

Ticker Security Last Change Change %
MRNA MODERNA, INC. 334.16 +0.55 +0.16%

Zoom Video Communications Inc. and Cloudera In. are scheduled to report their quarterly results following Monday’s closing bell.  

Ticker Security Last Change Change %
ZM ZOOM VIDEO COMMUNICATIONS, INC. 275.98 -0.42 -0.15%
CLDR n.a. n.a. n.a. n.a.

Overseas markets were broadly higher. 

CLICK HERE TO READ MORE FROM FOX BUSINESS

In Europe, Britain’s FTSE 100 climbed 0.32% as Germany’s DAX 30 ticked up 0.28% and France's CAC 30 rose 0.08%.

Japan’s Nikkei 225 paced the advance in Asia, rising 0.54% while Hong Kong’s Hang Seng index jumped 0.52% and China’s Shanghai Composite ticked up 0.17%.