SummarySummary Companies Tech shares lead S&P 500 sector gainsAlibaba climbs as Ant Group's Jack Ma to give up controlMacy's, Lululemon drop on holiday-quarter warningsIndexes: Dow down 0.03%, S&P 500 up 0.5%, Nasdaq up 1.3%NEW YORK, Jan 9 (Reuters) - The Nasdaq Composite (.IXIC) and S&P 500 (.SPX) indexes rose Monday afternoon, led by technology shares, on growing expectations that the Federal Reserve will become less aggressive with its interest rate hikes.
Technology (.SPLRCT) led the gains among S&P 500 sectors as U.S. Treasury yields declined, while the Nasdaq led the rise among the major indexes.
Also, S&P 500 companies are about to kick off the fourth-quarter earnings period, with results from top U.S. banks expected later this week.
The Dow Jones Industrial Average (.DJI) fell 9.63 points, or 0.03%, to 33,620.98, the S&P 500 (.SPX) gained 17.57 points, or 0.45%, to 3,912.65 and the Nasdaq Composite (.IXIC) added 138.83 points, or 1.31%, to 10,708.12.
The S&P 500 posted 13 new 52-week highs and two new lows; the Nasdaq Composite recorded 114 new highs and 23 new lows.