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Tech Earnings Propel Market to New Peaks

In a bullish Monday, all major indexes hit day-highs, with the Dow joining the S&P 500 and Nasdaq. Investors gear up for a monumental earnings week featuring tech leaders like Microsoft, Apple, Meta, and Google-parent Alphabet.

Dow’s Record High:
The Dow Jones Industrial Average set a new all-time record with a 0.6% gain, surpassing 38,000. The blue-chip index demonstrated resilience, maintaining momentum above the key level.

Earnings Week Anticipation:
Tech giants Microsoft, Apple, Meta, and Alphabet are set to report this week, potentially influencing market trends. These earnings releases provide insights into both the tech industry and overall market sentiment.

Market Performance:
The S&P 500 and Nasdaq climbed nearly 0.8% and 1.1%, respectively, reaching new highs. The small-cap Russell 2000 surged 1.7%, reflecting broad market positivity. The Innovator IBD 50 ETF outperformed, rallying 2.1%.

Stock Movers:
Amazon rose on news of abandoning plans to acquire iRobot, while iRobot faced an 8.8% drop. Magnificent Seven stocks like Apple and Nvidia showed varied movement, with Tesla posting its largest one-day gain since December 14.

Tech Sector Insights:
Microsoft topped the 5% buy zone, reaching an all-time high. Meta and Alphabet also performed well. Affirm surged, while SentinelOne extended past a 20% profit zone. GigaCloud Technology experienced volatility, plunging 11.6%.