Market Recap: Facebook hits $1 trillion value after judge rejects antitrust comp

Market Snapshot

The $S&P 500 Index (.SPX.US)$ticked up 0.23% to 4,290.61 for its third-straight record close.

The $Nasdaq Composite Index (.IXIC.US)$rose 0.98% to an all-time closing high of 14,500.51.

The $Dow Jones Industrial Average (.DJI.US)$, however, slid 150.57 points to 34,283.27 as energy and transport stocks came under pressure.

What drove the market?

The breakout to new highs in Growth was the catalyst to push the S&P 500 to new highs

"The breakout to new highs in Growth was the catalyst to push the S&P 500 to new highs," MKM Partners chief market technician JC O'Hara noted."We see the situation where Growth may continue to outperform Value in the weeks ahead," he said, based on technical analysis.

Investors expect a robust earnings season while interest rates remain low

The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.

Which stocks were in focus?

$Meta Platforms (FB.US)$

Shares jumped more than 4% after a U.S. federal court dismissed an antitrust case against the company from the Federal Trade Commission and closed with a market cap above $1 trillion .

$Tesla (TSLA.US)$

Shares gained 2.5% after Wedbush said the company faces a "moment of truth" following an autopilot software recallin China. The firm maintained its outperform rating on the electric vehicle maker despite the negative headlines.

$NVIDIA (NVDA.US)$

The semiconductor maker saw its equity jump 5% after it received support for its planned $40 billion takeover of U.K.-based chip designer Arm, according to a report in the Sunday Times of London. The public display of support comes from Broadcom, Marvell and MediaTek, all of which are customers of Arm.

$Boeing (BA.US)$

Shares fell 3.4% after the Federal Aviation Administration said in a letter to the aircraft maker that its 777X long-range aircraft likely won’t be approved to fly until mid- to late-2023at the earliest. The FAA’s letter to Boeing, which was obtained by CNBC, said there were numerous technical issues that needed to be resolved.

Source: Bloomberg, CNBC
By Mia