Wall St indexes post record closing highs again, tech shares higher

STORY: All three major U.S. stock indexes registered record closing highs for a third straight session on Monday, with the Dow gaining more than a tenth of a percent, the S&P 500 adding over four-tenths of a percent and the Nasdaq climbing seven-tenths of a percent.

After last week's quarter percentage point rate cut by the Federal Reserve, some central bank officials on Monday expressed doubt over the need for further cuts.

Potential inflationary pressures from President Trump's tariffs are just one reason investors should remain cautious in this bull market, said Dean Smith, chief strategist and portfolio manager at FolioBeyond.

“The fact that the entire environment can change really quickly on the basis of, you know, a couple of tweets coming from the president or someone in his administration means that I think investors should be playing things pretty close to the vest right now. Stay cautious. Don't take a lot of interest rate risk. Again, if inflation continues to rise, as I think it may, interest rates on the long-term side of things are going to continue to rise. [FLASH]. Anytime you can diversify, reduce your risk posture, I think that's a good position to be in over the next quarter or two at least.” Related Videos

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Shares of Tylenol maker Kenvue were down about 7.5% at the close, ahead of remarks by Trump that Tylenol contributes to the development of autism during pregnancy, a claim many doctors dispute. But the stock gained roughly 6% in extended trading during Trump's speech.

Other movers included Nvidia, which rose roughly 4% after the chip maker said it will invest up to $100 billion in OpenAI.

And shares of Apple jumped more than 4% after Wedbush raised the stock's target price on strong demand signs for the iPhone 17.

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