US stocks held near record-high levels Monday ahead of a holiday-shortened trading week as The tech-heavy Nasdaq Composite rose 0.2% after the index notched a "perfect" week in Friday's session with its fifth straight record close. The S&P 500 gained 0.2%, while the Dow Jones Industrial Average erased earlier losses to hug the flatline. Stocks have continued ripping higher as a tech-fueled rally has led Wall Street to revise its year-ahead targets for the S&P 500.
With last week's double dose of inflation reports and the Federal Reserve meeting behind markets, fewer catalysts are set to greet investors this week. The highlight will be Wednesday's retail sales report, which provides a glimpse into the health of the US consumer. Fed policymakers will likely pick up their chatter after last week's decision. Minneapolis Fed president Neel Kashkari on Sunday hinted that a December rate cut could be the Fed's only move this year.
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