Broadcom, Micron Technology, Supermicro, Ford and more

The Nasdaq climbed to a new intraday high on Monday as technology stocks rose ahead of an expected Federal Reserve interest rate decision later this week. The S&P 500 also rose, while the Dow was little changed.

Micron Technology (MU) led gains on the Nasdaq and S&P 500 as the company was optimistic about its earnings report, which is expected after the market closes on Wednesday.

Shares of Broadcom (AVGO) rose to another record high on the back of better-than-expected earnings last week, as Bernstein analysts named the company a “top pick” along with artificial intelligence (AI) darling Nvidia (NVDA). designated.

Bitcoin also maintained its record-breaking pace, helping to boost shares of MicroStrategy (MSTR), the digital currency’s largest corporate holder. The company is also expected to be included in the Nasdaq 100 Index.

Honeywell International (HON) shares rose after the aerospace, building and security products maker said it is considering spinning off its aerospace business.

Super Micro Computer (SMCI) was the worst-performing stock in the S&P 500 after Friday’s announcement that the stock will be removed from the Nasdaq 100 Index and reports that the server maker is looking for ways to raise capital.

Shares of Ford Motor (F) fell after a downgrade from Jefferies, which cited inventory concerns.

Oil and gold futures fell. The yield on the 10-year Treasury note barely changed. The US dollar gained against the euro and the yen but lost ground against the pound.