US stocks close at records despite Apple’s dour day
The S&P 500 gained 0.3% to close at a fresh record high, as did the Nasdaq 100 with a 0.4% advance.
Utilities bounced back from their recent doldrums, up 1.3% to lead all S&P sector ETFs, with energy stocks also posting solid gains. Financials lagged, with regional banks down more than 1%. Huntington Bank was the worst performer in the S&P 500, down 6.1%. Management cut guidance on net interest income and see slower loan growth for the rest of the year, fueling the stock’s worst session since the regional banking crisis last year.
Southwest Airlines, meanwhile, had its best day in more than two years on reports that Elliott Management took an activist position in the company.
Nvidia’s stock split was in effect Monday, but that didn’t stop the shares from doing what they normally do (going up, in this case 0.8%). Apple’s presentation at its worldwide developers conference was a bit of a dud, though some AI features are coming. The stock fell 1.9%.
