U.S. stocks close higher ahead of employment, inflation data

U.S. stocks ended higher on Monday, with the Dow Jones Industrial Average achieving a fresh record close as investors positioned themselves for a pivotal week of delayed economic reporting and corporate financial updates.

The Dow Jones Industrial Average edged up 0.04 percent to a new all-time high of 50,135.87. The S and P 500 added 0.47 percent, to 6,964.82, and the Nasdaq Composite Index increased by 0.9 percent, to 23,238.67.

Market performance among the 11 primary S and P 500 sectors was largely constructive, with seven finishing in positive territory. Technology and materials led the advance, climbing 1.59 percent and 1.44 percent, respectively. In contrast, the consumer staples and healthcare sectors lagged, each declining 0.86 percent.

The technology sector remained a focal point of debate regarding the impact of artificial intelligence on traditional software business models. The shares of Monday.com Limited plummeted over 20 percent after the software provider issued revenue and profit guidance that failed to meet analyst expectations.

However, other major technology names continued their recovery from previous volatility with Nvidia and AMD gaining 2.5 percent and 3.63 percent, respectively. Meanwhile, Oracle surged nearly 10 percent and Microsoft rose over 3 percent.

Economic anticipation is high as the U.S. Bureau of Labor Statistics prepares to release the delayed January non-farm payrolls report on Wednesday. Market participants are seeking clarity on whether the labor market is experiencing significant softening following last week's disappointing private-sector payroll update from ADP.

In corporate news, ON Semiconductor is slated to release its results after the market close on Monday. The earnings calendar remains heavy throughout the week, with high-profile reports expected from Coca-Cola, McDonald's, and Cisco, which will provide further insight into consumer spending and corporate investment trends.

U.S. stocks close higher ahead of employment, inflation data

Global food commodity prices climbed for a second consecutive month in March, driven mainly by higher energy costs linked to escalating conflict in the Middle East, the Food and Agriculture Organization of the United Nations (FAO) said in report released on Friday.

The FAO Food Price Index, which tracks monthly changes in the international prices of a basket of globally traded food commodities, averaged 128.5 points in March, up 2.4 percent from February and 1.0 percent above its level a year ago.

According to the report, the FAO Vegetable Oil Index and Sugar Price Index showed the largest increases, up 5.1 percent and 7.2 percent, respectively.

The FAO Cereal Price Index increased by 1.5 percent from the previous month, driven primarily by higher world wheat prices, which rose 4.3 percent.

The FAO Meat Price Index rose by 1.0 percent from the previous month, and the FAO All-Rice Price Index declined by 3.0 percent in March, according to the report.

FAO stated that rising energy and fertilizer prices have been driving up agricultural input costs.

If the conflict stretches beyond 40 days, farmers will have to choose to farm the same with fewer inputs, plant less, or switch to less intensive fertilizer crops, according to FAO Chief Economist Maximo Torero.

These choices will hit future yields and shape food supply and commodity prices for the rest of this year and beyond, Torero said.

Global food prices rise for 2nd consecutive month in March amid Middle East conflict: FAO