SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
The 2019 PGA Championship wraps up on Sunday, May 19. Here's how much money the champion will earn.Earnread more
Trump's relationships with Deutsche Bank have drawn scrutiny in Congress and elsewhere. Trump sued the bank last month to prevent it from complying with Congressional...Financeread more
Consumer IPOs from Snap to Uber have been disappointing and serve as a reminder that private investors are making all the money.Technologyread more
China's currency has been an important barometer for progress in U.S.-Chinese trade talks, and right now it's signaling things aren't going well.Market Insiderread more
The outrage has even inspired a Change.org petition called "Remake Game of Thrones Season 8 with competent writers," with over half-a-million signatories and climbing.Entertainmentread more
The move comes after star runner Alysia Montaño's May 12 op-ed in the New York Times in which she detailed her experiences with Nike.Retailread more
U.S. stocks closed higher on Monday as technology stocks recovered from a wobbly performance last week.
The Dow Jones industrial average rose about 140 points and hit intraday and closing records, surpassing a previous all-time high of 21,391.97, which was set last week.
The S&P 500 gained 0.8 percent to also reached record levels, with information technology rising 1.4 percent to lead advancers. The Nasdaq composite outperformed, rising 1.65 percent.
"Tech stocks, after being on everyone's sell list over the past few days, are now back on people's buy lists," said Anthony Conroy, president at Abel Noser. "Looks like there's some buying on the dip."
Large-cap technology stocks like Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all closed higher. Amazon also hit an all-time high at the open.
Last week, valuation concerns sent the overall sector lower by around 0.8 percent. Tech is by far the best-performing sector of the year, rising 17.2 percent in the period.
"I don't know where the optimism is coming from. That's not to say we should be negative. I just don't see any reason for excessive optimism or pessimism right now," said Randy Frederick, vice president of trading and derivatives at Charles Schwab.
Several tech CEOs, including Amazon's Jeff Bezos and Apple's Tim Cook met with President Donald Trump as the administration sets its sights on dramatic spending cuts.
Overseas, European stocks rose broadly after French President Emmanuel Macron's party won a parliamentary majority. The pan-European Stoxx 600 index rose 0.86 percent, while the French CAC 40 advanced nearly 1 percent.
"I think there's a bit of a sense of relief that Macron won the majority," said Jeremy Klein, chief market strategist at FBN Securities. "Europe had been treading water recently and now it looks like it's reverting higher."
There are no major economic data due Monday, but Wall Street paid attention to remarks from a key Federal Reserve official.
Before the bell, New York Fed President Bill Dudley said the central bank inflation should pick up as wages rise along with continuing improvement in the labor market.
Treasury yields erased earlier losses following Dudley's statement, with the benchmark 10-year yield climbing to 2.19 percent.
Dudley made his remarks less than a week after the Fed raised rates for the second time this year. Investors, however, are skeptical the central bank will be able to further tighten in September. Market expectations for a September rate hike are just 13 percent, according to the CME Group's FedWatch tool.
"The market seems to be ignoring the Fed and it's doing its own thing instead," said Peter Cardillo, chief market economist at First Standard Financial.
The Dow Jones industrial average rose 144.71, or 0.68 percent, to close at 21,528.99, with Apple leading advancers and Travelers lagging.
The S&P 500 gained 20.31 points, or 0.83 percent, to end at 2,453.46, with information technology leading eight sectors higher and energy underperforming.
The Nasdaq advanced 87.25 points, or 1.42 percent, to close at 6,239.01.
About nine stocks advanced for every five decliners at the New York Stock Exchange, with an exchange volume of 800.85 million and a composite volume of 3.240 billion at the close.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 10.3.
On tap this week:
7:00 p.m. Chicago Fed President Charles Evans
8:30 a.m. Current account
8:30 a.m. Philadelphia Fed
3:00 p.m. Dallas Fed President Robert Kaplan
Earnings: Oracle, Winnebago, CarMax
10:00 a.m. Existing home sales
8:30 a.m. Initial claims
9:00 a.m. FHFA home prices
10:00 a.m. Fed Gov. Jay Powell at Senate Banking
Earnings: Blackberry, Finish Line
9:45 a.m. Manufacturing PMI
10:00 a.m. New home sales
10:15 a.m. St. Louis Fed President James Bullard
12:40 p.m. Cleveland Fed President Loretta Mester
2:15 p.m. Fed Gov. Powell