**Major Stock Indexes Reach Record Highs as Tech Stocks Lead the Rally**

Stocks surged in late trading Monday, driven by substantial gains in technology stocks, with Nvidia leading the charge. The S&P 500 and Dow Jones Industrial Average advanced 0.8% and 0.5%, respectively, each setting new all-time highs. The Nasdaq Composite also climbed 1%, nearing a record high of its own. This continued a trend of rising indexes, which are benefiting from five consecutive weeks of gains due to strong earnings reports and positive inflation data.

Despite it being a federal holiday, the stock market remained open while government offices, banks, and the bond market were closed. Investors are anticipating a series of major earnings reports and economic data releases in the days ahead. Technology giants such as Microsoft, Apple, Meta Platforms, Alphabet, and Broadcom all saw their stock prices rise, with Nvidia posting a notable 3% gain. In contrast, Amazon experienced a slight decline.

Other sectors experienced mixed results. Boeing’s shares dropped over 1% following an announcement of cost-cutting measures, including a 10% workforce reduction amounting to 17,000 jobs, alongside an expected $5 billion pre-tax earnings charge for the third quarter. Meanwhile, Caterpillar fell 2% after Morgan Stanley downgraded the stock to 'underweight' and reduced its price target.

Cryptocurrency-related stocks enjoyed a boost, with bitcoin prices increasing by more than 5% to around $66,000. This uplift benefited companies like Coinbase, which surged 11%, and Marathon Digital Holdings, which added 7%. After recent volatility, crude oil futures dropped by 2%, while gold futures saw a slight decline to around $2,670 an ounce.

SiriusXM shares jumped nearly 9% after Warren Buffett’s Berkshire Hathaway disclosed its acquisition of 3.6 million shares for approximately $97 million, bringing Berkshire’s stake to nearly one-third of the company. Despite this increase, SiriusXM shares have lost about half of their value in 2024. Recently, the company announced a significant multi-year agreement with Alex Cooper for her "Call Her Daddy" show, starting in 2025.

Uber shares also took a hit, declining 1.6% to $85, though they remain close to record highs, influenced by the recent unveiling of Tesla’s robotaxi. Investors should keep an eye on key support levels of $81, $74, and $68 for Uber’s stock.

In other corporate news, SoFi Technologies' stock price rose over 7% following the announcement of a $2 billion loan deal with Fortress Capital, aimed at expanding its personal loans business. Boeing shares dropped 1.3% to around $149 after revealing extensive cost-cutting measures and significant financial charges expected for the upcoming quarters. The company anticipates a loss of around $10 per share for the period.

As the week began, the S&P 500 and Dow Jones set new record-high levels, while the Nasdaq remained just 1.7% away from its all-time high set in July. Both the S&P 500 and Nasdaq have gained 22% in 2024, illustrating a strong performance year-to-date.