The markets started the week where they left off Friday, pushing higher and higher. The Dow 30 was higher by 177 as Apple (NASDAQ: AAPL) made new highs. The S&P 500 gained 12, and the Nasdaq 100 was higher by 52 thanks to Apple and a strong day for tech stocks. Analysts were quick to point out that this strength in Apple is proof that investors are confident in the overall market.
Shares of Microsoft (NASDAQ: MSFT) helped support the Nasdaq and it's push to highs as the company officially announced it's acquisition of GitHub for $7.5 billion. Shares once again pushed to new highs as the rumor from last week became official this week. Shares of Microsoft are now higher by almost 20% on the day.
Retail was a big mover today with the sector moving higher by 2%. Major movers in this space today included Under Armour (NYSE: UA) after an upgrade, Target (NYSE: TGT) which popped over 4%, and eight other names that all gained over 2% on the day.
It wasn't all roses on the day though as the price of Oil pushed through the technical uptrend that many investors had been focused on. The price of oil fell over 1% today as investors took their profits all at the same level. This helped push stocks in the oil space lower on the day. The oil exploration ETF (NYSE: XOP) was lower by 2% on the day.
As the highs from the labor departments jobs numbers begin to wear off, many expect the focus to shift back to Washington and the trade wars among other items on the agenda.