How major US stock indexes fared Monday, 7/31/2023

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Wall Street is closing out its latest winning month with another lift. The S&P 500 rose 0.1% Monday to cap its fifth straight month of gains. It’s at a 16-month high after rallying on hopes cooling inflation will mean the economy can avoid a long-predicted recession. The Dow Jones Industrial Average and the Nasdaq composite also finished higher. Critics have said the rally has come too quickly. Several reports this week could back them up, including updates on the job market and profits at the market’s most influential companies. On Monday: The S&P 500 rose 6.73 points, or 0.1%, to 4,588.96. The Dow Jones Industrial Average rose 100.24 points, or 0.3%, to 35,559.53. The Nasdaq composite rose 29.37 points, or 0.2%, to 14,346.02. The Russell 2000 index of smaller companies rose 21.64 points, or 1.1%, to 2,003.18. For the year: The S&P 500 is up 749.46 points, or 19.5%. The Dow is up 2,412.28 points, or 7.3%. The Nasdaq is up 3,879.54 points, or 37.1%. The Russell 2000 is up 241.93 points, or 13.1%.