S&P 500 hits 2-week high
US indices closed with collective gains in Monday's session, supported by Apple and Tesla shares, as investors await the Federal Reserve's statement and expectations regarding the interest rate path next Wednesday.
Markets expect the Fed to keep interest rates unchanged while adopting an optimistic tone.
Performance of major US indices:
The Dow Jones Industrial Average rose about 0.4%, or 146 points, on Monday, marking its second straight daily gain.
The Nasdaq Composite Index also rose 0.35% to touch 16,000 levels during the session.
The S&P 500 rose about 0.3% to its highest level in two weeks.
Tesla shares rose about 15%, posting their biggest daily gain in years, after the electric carmaker made progress in securing regulatory approval to launch its advanced driver-assistance software in China, its second-largest market after the United States.
Apple stocks
Apple shares rose 2.5% in Monday's session to their highest level in two weeks, adding $65 billion to the company's market value in a single day.
The gains came after a report indicated that the iPhone maker had renewed discussions with OpenAI about using the startup's generative AI technology.
Bernstein also upgraded Apple shares to outperform.
Domino's Pizza Stock
Domino's Pizza shares jumped about 6% in Monday's session to their highest level in more than two years after reporting better-than-expected results.
The company's revenue was $1.08 billion for the quarter ended March 2024, representing a 6% increase year-over-year.
