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Stock market today: Dow, S&P 500 head for record high, Nasdaq jumps as Nvidia surges

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Nasdaq Composite News

S&P 500,Arm Holdings,Record Highs

Stocks are upbeat as Nvidia heads for a fresh record high, with the next batch of big bank earnings in focus.

US stocks rose on Monday to head for fresh record highs as Nvidia shares climbed and investors prepared for more big bank earnings to test that rally and the chances of an economic "soft landing." The S&P 500 moved up 0.7% to head for a fresh record after ending above 5,800 for the first time on Friday. The tech-heavy Nasdaq Composite jumped 0.7%. The Dow Jones Industrial Average rose more than 100 points, or 0.4%.

The Dow and S&P 500 closed a winning week at new records after JPMorgan Chase and Wells Fargo earnings largely passed Wall Street's test. Investor focus is staying on big banks with reports from Goldman Sachs , Citi , and Bank of America on Tuesday's docket, and Morgan Stanley due Wednesday. At the same time, there's still uncertainty about whether the Federal Reserve will cut interest rates again.

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