S&P 500 rises slightly

S&P 500 rises slightly

On Monday, the S&P 500 rose to a certain extent as the broader market index tried to maintain its
momentum and attempted to go beyond its Feb. 19 record high.
The index surged 0.3%. The Nasdaq Composite added 0.7%. The Dow Jones Industrial Average lagged,
falling 68 points, or about 0.3%, as reported by CNBC .
Shares of Alphabet and Microsoft all succeeded in rising at least 0.3% to lead the Nasdaq higher.
Amazon, meanwhile, soared 0.4% after Reuters reported the e-commerce giant expecting a minority
stake in cloud company Rackspace Technology. CNBC confirmed the report using a source. Shares of
Rackspace went up more than 13% on the news.
The best-performing sector in the S&P 500 was consumer discretionary, rising 0.8%. The S&P 500
materials sector added 0.6% as miners Newmont and Freeport-McMoRan each ascended more than 1%.
“The S&P 500 is overbought into key resistance and up against seasonal headwinds,” Ari Wald, head of
technical analysis at Oppenheimer, said in a note to clients. But should the market “consolidate from
here, we’ll be monitoring for an accumulation of cyclical equities to confirm what we expect to be a
breakout to a new high.”

(Reference: CNBC)