LIVE MARKETS-US stocks rally as investors have their eyes back on the highs

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US STOCKS RALLY AS INVESTORS HAVE THEIR EYES BACK ON THE HIGHS

The main U.S. stock indexes advanced on Monday as investors geared up for a slew of mega-cap earnings and a closely watched Federal Reserve decision. The S&P 500 and Nasdaq both extended gains for a fourth consecutive session, putting them on track for their longest winning streak in over a month.

With the strength, the S&P 500 .SPX ended down 0.39% from its January 12 record closing high, while the Dow .DJI finished down 0.36% from its record closing high, which was also seen on January 12. The Nasdaq Composite .IXIC is down 1.49% from its October 29, 2025 record closing high.

Additionally, the S&P 500 ended just 0.7% from the 7,000 milestone, while the Dow finished 1.2% below 50,000.

There were some fresh record closing highs on Monday including the NYSE Composite .NYA, as well as the S&P 500 Industrial .SPLRCI, Materials .SPLRCM, and Energy .SPNY sectors.

Precious metals miners .XAU also scored a record close. This move came after gold XAU= pushed above $5,000 for the first time. However, of note, gold has pared gains, while silver XAG= has retreated sufficiently off its intraday high to be forming a bearish shooting star candle on its daily chart.

The gold/silver ratio, which is now around 46.75 has plunged into a support zone, while also reaching an intriguing level relative to its 200-day moving average. This action has traders bracing for a potential reversal.

Here is a snapshot of where markets stood just shortly after 4 p.m. ET.

(Terence Gabriel)

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