Nasdaq hits a record high as AI momentum offsets broad market weakness, while energy stocks like Marathon Petroleum and Valero climb alongside surging Brent crude prices.
Brent crude surged roughly 25% to $100 a barrel in the past three months, worsening affordability crisis.
S&P 500 closed 0.4% from its record close, but breadth weakened with many stocks down 20% from highs.
AMD hit a major milestone as AI stocks blazed higher, with semiconductor and hardware names roaring higher.
Nasdaq Composite finished above its prior peak, reaching a fresh record high.
Marathon Petroleum was trading near its all-time high as energy names surged with Brent crude above $100.
Valero Energy was among energy names trading near all-time highs amid surging oil prices.
Phillips 66 was listed among S&P 500 energy names trading near their all-time highs.
The Nasdaq Composite reached a fresh record high on Monday, fueled by a resurgence in AI-related technology stocks and semiconductor names like AMD. While the S&P 500 nears its own peak, market breadth remains narrow, with nearly 60% of index components trading 20% below their all-time highs amid persistent inflation and energy cost pressures.
The index is being driven primarily by a small group of megacap technology stocks and AI-related companies, which masks significant underperformance in other sectors like utilities and consumer discretionary.