Nasdaq lifts to fresh record while Dow retreats
Gains by several large tech companies pushed the Nasdaq to a fresh record on Monday, on an overall mixed day for US equities as weakness at JPMorgan Chase dragged down the Dow. Microsoft climbed 1.2 percent as it unveiled new PC offerings that feature generative artificial intelligence tools built directly into its Windows operating system. Chip giant Nvidia also advanced ahead of its earnings release due later this week. But JPMorgan slumped 4.5 percent, with analysts attributing the decline to CEO Jamie Dimon signalling he is closer to retiring from the US banking giant. The tech-focused Nasdaq rose 0.7 percent to 16,794, topping last week's record. The Dow Jones, meanwhile, slid 0.5 percent to 39,806, while the S&P 500 edged up 0.1 percent to 5,308. Besides Nvidia earnings, this week's calendar includes Federal Reserve minutes from the May 1 meeting. "It's a mixed session," said Peter Cardillo, of Spartan Capital. "I kind of think it's going to be this way until some new catalyst." Results from some leading retailers, including Target and Lowe's, are also on this week's plate. Strong results from Walmart last week added to market momentum. Among other equities, tech company Jabil shot up 5.2 percent after announcing that Michael Dastoor was promoted from chief financial officer to chief executive officer. The company also confirmed its profit forecast. (AFP)