Wall St. Higher As S&P 500 And Nasdaq Head To Surpass Records

Most US stock indices are ticking higher on Monday, adding to their latest winning week.

Norwegian Cruise Line was helping to lead the market and steamed 6.1% higher after giving some financial forecasts for the year that topped analysts’ expectations. I Photo: Norweigan Cruise Line Holdings Ltd.

The S&P 500 was up 0.4% in morning trading and on track to surpass its record set last week. The Nasdaq composite was 0.7% higher and likewise on pace for a record, as of 10 a.m. Eastern time, Stan Choe reported for the Associated Press (AP).

The Dow Jones Industrial Average was trailing the market and down 4 points, or less than 0.1%, after closing above the 40,000 level for the first time on Friday.

Norwegian Cruise Line was helping to lead the market and steamed 6.1% higher after giving some financial forecasts for the year that topped analysts’ expectations. It said demand is growing for cruises, and some of its competitors gained in its wake.

Carnival rose 4.6%, and Royal Caribbean Group gained 4.5%.

All three of the big US stock indexes set records last week largely due to revived hopes that the Federal Reserve will be able to cut interest rates this year as inflation hopefully cools.

More reports showing big US companies are earning fatter profits than expected also boosted stock prices, Matt Ott and Zimo Zhong also reported for AP.