US stocks tilted higher on Monday as the Nasdaq Composite touched new intraday highs and the Dow Jones Industrial Average dipped below 40,000 after closing above the landmark level for the first time on Friday. The S&P 500 rose 0.3%, and the Dow fell 0.4% in the wake of the blue-chip benchmark's record close on Friday. The tech-heavy Nasdaq Composite climbed about 0.6% as Nvidia shares gained ahead of the chipmaker's highly anticipated earnings later this week.
A key test comes on Wednesday, with the release of minutes from the Fed meeting in May, as Yahoo Finance's Josh Schafer reports. On Monday Fed Vice Chair Philip Jefferson and Fed Vice Chair of Supervision Michael Barr pointed to disappointing inflation in the first quarter as a reason for holding rates where they are, allowing more time for restrictive policy to work.
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