U.S. stocks closed higher on Monday following a widespread push from tech stocks. Software giant Nvidia led the charge, surging 7%. The tech-heavy Nasdaq Composite Index gained 1% off the back of the tech surge, while the benchmark S&P 500 gained 0.6%. The Dow Jones Industrial Averaged edged higher by 0.1%.
This market uptick comes as investors brace themselves to digest the July retail sales report as well as a slew of earnings from the United States’ premium Big Box stores, including Walmart, Target, and Home Depot.
Markets also await the minutes of the Federal Reserve’s last policy meeting, due to be released on Wednesday. With the central bank choosing to resume its interest rate hiking agenda, analysts will hope to find clues on the Federal Reserve’s next moves regarding its fiscal policy when it reconvenes in September.
Home Depot is set to release its earnings during premarket trading on Tuesday, while Target will report its earnings on Wednesday and Walmart will announce its results on Thursday.