Tech Stocks Propel S&P 500 to Record Highs Amid Key Economic Insights

The S&P 500 and Nasdaq advanced, driven by technology stocks, as investor attention focused on major economic data and Federal Reserve policies. Key metrics like the November nonfarm payrolls report and Federal Reserve interest rate decisions are anticipated to impact market movements, amidst Trump administration policy changes and other economic indicators.

The S&P 500 and Nasdaq Composite both saw gains on Monday, with technology stocks propelling the benchmark index to an all-time high. Investors closely monitored a series of significant economic data scheduled for release this week.

The November nonfarm payrolls report on Friday is expected to be pivotal in assessing the U.S. labor market's health. Jay Woods from Freedom Capital Markets suggested that aligned readings could encourage the Federal Reserve to proceed with a 25-basis-point cut in interest rates.

While manufacturing activity improved in November, investors are cautious about potential inflation impacts from policies proposed by President Trump, who recently regained the White House alongside congressional support. Analysts predict corporate performance boosts, but inflation concerns could alter the Fed's rate easing trajectory.

(With inputs from agencies.)