Dow Jones makes tiny gains, hits new record. Tech stocks pull Nasdaq down.

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Image from TradingView

Blue-chip stocks were in the spotlight on Monday as investors avoided technology stocks ahead of Nvidia’s earnings report this week.

The Dow Jones Industrial Average DJI was the only winner on Monday as investors stuck to good old stocks and avoided the modern technology giants. The 30-stock index rose a modest 0.2%, or 66 points, to hit a new record of 41,240.52. The tech-heavy Nasdaq Composite and the broad-based S&P 500, meanwhile, fell 0.8% and 0.3%, respectively.
Glamour gave way to heritage on the stock market. The appeal of real economy stocks such as banks and retail as safe havens attracted asset managers ahead of the expected tech jitters later in the week. Nvidia NVDA is preparing to show off its earnings report. The chip giant’s quarterly results – due after the market closes on Wednesday – will show whether the AI boom is still going strong.
On Friday, Markets will be closely watching the PCE inflation numbers for July. PCE, short for Personal Consumption Expenditures, is the Federal Reserve’s preferred inflation measure. The results will help estimate how much the Fed might cut interest rates when officials meet on September 17 and 18. Get ready for something – there will be volatility.