S&P 500, Nasdaq Hit Records as Mag 7 Stocks Drive the Rally

Core Points - The major indexes, S&P 500 and Nasdaq, reached record closing highs, driven by megacap tech stocks [1][2] - The S&P 500 increased by 0.5% and the Nasdaq Composite rose by 0.9%, marking the 25th and 26th record closings of the year respectively [1][2] Market Performance - The Dow Jones Industrial Average saw a modest increase of 50 points, or 0.1% [1] - The overall market rally is occurring ahead of a significant interest-rate decision expected later in the week [1]