KEY TAKEAWAYS:

S&P 500 and Nasdaq closed near record highs

AppLovin and Robinhood jumped after S&P 500 inclusion

EchoStar surged on $17B SpaceX spectrum deal

Investors await key inflation and jobs data this week

Stocks drifted higher on Monday ahead of a week with several data reports that could dictate by how much or even whether the Federal Reserve will cut interest rates at its next meeting in a week.

The S&P 500 added 0.2% and finished just below its record set last week. The Dow Jones Industrial Average rose 114 points, or 0.3%, and the Nasdaq composite climbed 0.5% to its own all-time high.

AppLovin and Robinhood Markets helped lead the market after learning they will join the S&P 500 index later this month, along with Emcor Group. Many investment funds directly

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