The US markets ended mostly in green on Monday as the Nasdaq and the S&P 500 closed at their new record highs. The semiconductor stocks fuelled the upside trend with the Philadelphia Semiconductor index surging by 2.9 percent to a record closing high following the deal between Advanced Micro Devices (AMD) and OpenAI. AMD has announced a 6-gigawatt agreement to power OpenAI's next-generation AI infrastructure across multiple generations of AMD Instinct GPUs. As part of the agreement, AMD has issued OpenAI a warrant for up to 160 million shares of AMD common stock, structured to vest as specific milestones are achieved. Meanwhile, traders continued to shrug off concerns about the economic impact of the ongoing government shutdown, which entered its sixth day amid little signs of progress toward a deal on a temporary spending bill.
On the sectoral front, gold stocks showed significant strength amid a sharp increase by the price of the precious metal, with the NYSE Arca Gold Bugs Index jumping by 1.9 percent. Software stocks also moved up while housing and commercial real estate stocks moved notably lower over the course of the session.
Nasdaq climbed 161.81 points or 0.71 percent to 22,941.67 and S&P 500 rose 24.49 points or 0.36 percent to 6,740.28, while Dow Jones Industrial Average edged down 63.31 points or 0.14 percent to 46,694.97.
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