Stocks jumped Monday as traders took in last week’s much stronger-than-expected monthly jobs report and looked ahead to a busy week of commentary from Federal Open Market Committee (FOMC) members.
The Dow gained more than 350 points, or 1%, reaching a record high. The S&P 500 also reached an intraday and closing record, and the Nasdaq jumped 1.7% as technology stocks extended recent gains. Treasuries were mixed across the curve, and the yield on the 10-year Treasury note ticked down slightly to about 1.71%. Shares of GameStop (GME) sank after the company announced an up to $1 billion share sale. Meanwhile, shares of Tesla (TSLA) jumped after the electric vehicle-maker posted first-quarter deliveries that more than doubled over last year.