S&P 500, Dow indexes reach new highs
Technology companies led U.S. stocks modestly higher Monday, driving the market to another set of milestones.
The Standard & Poor’s 500 index and Dow Jones industrial average finished at new highs.
Solid gains by health care companies also helped lift the market, outweighing losses among banks and industrial stocks. Energy stocks rose along with the price of crude oil.
Investors had their eye on bitcoin futures, which made their market debut. But traders were looking ahead to the outcome of Wednesday’s meeting of Federal Reserve policymakers. The Fed is scheduled to issue an interest rate policy update that day. Economists expect the central bank to lift short-term rates by 0.25 percent.
While inflation has remained low, the central bank has seen a path to gradually raise rates as the economy and labor market have strengthened. The Labor Department said Monday that U.S. employers posted slightly fewer job openings in October than the previous month, but the number of people being hired increased.
Apple shares went up 1.9 percent after the website Apple Insider said the company is delivering new iPhones to customers at a faster pace. Apple also made news after it agreed to acquire the Shazam music identification service for an undisclosed amount.