Dow Jones hit record high levels; S&P500 and NASDAQ edge higher ahead of Jobs data

The US markets are now back in a record run as the Dow Jones hit a fresh record high on Monday. S&P500 and NASDAQ also advanced up to 0.8% on Monday as investors reassessed the opportunity in tech stocks. The majority of the gains in the NASDAQ were led by chipmakers like Nvidia (+2.5%) and Broadcom (+3.5%).

In addition, the Oracle shares jumped 9.6% after a brokerage update boosting the company’s prospects due to OpenAI’s demand. While the software companies continued to remain under pressure, as newer AI models threatened the legacy business models.

According to a Bloomberg report, Alphabet is planning to issue a 100-year bond as part of its mega issue. This would be the first of its kind sale of a debt issue since the 1990s. The 100 year bonds market is primarily dominated by governments and universities with potential acquisitions.

Investors are now waiting for key macroeconomic data, which will set the course for US markets. The January non-farm payroll data will be released on Wednesday, and the January CPI inflation on Friday. The data will likely chart the Federal Reserve’s next course of action on rate cuts. Market experts suggest nearly 2 rate cuts in 2026 amid the expectation of a broader recovery in the US economy.

The US dollar witnessed one of the sharpest falls in recent weeks after bouncing back from the lower levels. The US dollar index fell from 97.7 to 96.8 on Monday as pressure on the greenback intensified. The Japanese Yen strengthened further against the US dollar as the re-election of PM Takaichi boosted the expansionary sentiment.

In addition, the Chinese authorities and the regulator have asked financial institutions to reduce their exposure to the U.S. Treasury bonds, Bloomberg reported.

While the oil prices held steady on Monday amid ongoing negotiations between Iran and the US. The US advised oil vessels to ship far away from Iran while passing through the Strait of Hormuz.

The gold and silver prices held the majority of the gains on Monday, as gold prices closed above the $5000 mark and silver above $80 per oz level on Monday.