The Dow Jones Industrial Average rose to a new record high on Monday as market sentiment continues to benefit from increased optimism towards near-term interest rate cuts. The 30-stock average rose more than 200 points during the session, but ultimately closed 65 points higher at 41,240.52 for the first time. The S&P 500 Index and Nasdaq Composite, meanwhile, slipped 0.32% and 0.85% lower, respectively.

Here's how the market settled on Monday:

S&P 500 Index (SPY  ): -0.32% or -17.77 points to 5,615.84

Dow Jones Industrial Average (DIA  ): +0.16% or +65.44 points to 41,240.52

Nasdaq Composite Index (QQQ  ): -0.85% or -152.03 points to 17,725.76

In Focus:

UBS delivered another positive outlook for the broader market, with the bank forecasting for stocks to continue showing strength throughout the rest of the year despite brewing geopolitical tensions in the Middle East and uncertainty stemming from the U.S. presidential election in November.

"We see room for US equities to rise further in a constructive environment driven by Fed rate cuts, the growth story around artificial intelligence (AI), and healthy earnings growth," the bank wrote in a Monday note. The bank added that it believes the S&P 500 could rise to 5,900 by the end of the year, implying just under 5% growth.

In Single-Stock News:

Boeing (BA  ) will return its Starliner capsule from the International Space Station (ISS) without the two NASA astronauts it launched in early June, the government agency announced Saturday. Astronauts Butch Wilmore and Suni Williams will instead return to Earth via SpaceX's Dragon spacecraft, which is expected to launch its mission to the ISS on Sept. 24.

"Boeing has worked very hard with NASA to get the necessary data to make this decision," NASA Administrator Bill Nelson said during a press conference on Saturday. "We want to further understand the root causes and understand the design improvements so that the Boeing Starliner will serve as an important part of our assured crew access to the ISS."

"This incident could negative affect Boeing's reputation with NASA and it's unclear if or when the company will have another opportunity to bring astronauts to Space," Bank of America analyst Ronald Epstein wrote in a Monday note, adding that the firm maintains its Neutral rating on Boeing, "as we continue to see the company as being in limbo as its works through operational challenges under new leadership." Epstein also maintained BofA's 12-month price target at $200, implying a more than 14% upside potential.

Apple (AAPL  ) will host an event at its Cupertino, California headquarters on Sept. 9, the company announced Monday, with the tech giant expected to announce its latest iPhone and Apple Watch models. This year's invites include the tagline "It's Glowtime," which is likely a reference to Apple's new redesign of its Siri interface, which will integrate Apple Intelligence, the company's AI software, to its new hardware models. The launch event will be streamed on Apple's website and YouTube (GOOGL  ) (GOOG  ).

SolarEdge Technologies (SEDG  ) CEO Zvi Lando announced his departure from the solar panel company on Monday, effective immediately, with CFO Ronen Faier serving as interim CEO while the company looks for a permanent replacement.

"The road to a full recovery of SolarEdge is still ahead of us and to drive this recovery at a fast pace requires new energy and leadership," Lando said in a statement. "As such, I have decided to resign from my position as CEO."

For Tuesday:

Market participants will turn their attention towards housing market and consumer confidence data on Tuesday.