Stocks Ended Mostly Higher, Nasdaq Rose to a Record High

U.S. stocks ended mostly higher on Monday, with the Nasdaq Composite closing at a record high as bid tech stocks jumped. The Dow Jones Industrial Average lost 86.11 points, or 0.31%, to 27,844.91. The S&P 500 added 9.14 points, or 0.27%, to 3,381.99. The Nasdaq Composite jumped 110.42 points, or 1.00%, to 11,129.73.

Oil futures shook off early weakness Monday, with its resilience attributed in part to reports China would boost U.S. crude imports and that OPEC+ members largely complied with production cuts last month. West Texas Intermediate crude for September delivery rose 88 cents, or 2.1% to finish at $42.89 a barrel. October Brent crude gained 57 cents, or 1.3% to settle at $45.37a barrel.

Shares of Tesla Inc. soared 11% to a record close, after Wedbush analyst Dan Ives raised his target to be the fourth-highest on Wall Street, citing signs of accelerating demand in China. Ives raised his price target to $1,900 from $1,800.