U.S. Stocks Rise Amid Justice Department's Powell Probe

U.S. stocks experienced a slight uptick on Monday, supported by tech shares and Walmart, despite concerns over the U.S. Justice Department's investigation into Federal Reserve Chair Jerome Powell. The S&P 500 and Nasdaq both gained ground, while Walmart's stock surged after moving its listing to Nasdaq.

U.S. stocks edged upward on Monday, buoyed by technology companies and an impressive performance by Walmart, even as investors seemed to downplay the Justice Department's criminal investigation into Federal Reserve Chair Jerome Powell.

The S&P 500 reached a record intraday high, with the technology sector climbing 0.8%. Notably, Walmart shares soared by 2.7%, following its stock listing move to Nasdaq from the NYSE, as it prepares to join the Nasdaq-100 index on January 20. This shift could attract billions from passive index funds.

Initial trading had stocks opening lower following President Trump's Justice Department threat to indict Powell over congressional testimony, which Powell called a "pretext" for rate-cut influence. As investors anticipate the upcoming U.S. earnings season, market reactions remain tempered.