04:35 PM EST, 11/11/2024 (MT Newswires) -- The Dow Jones Industrial Average closed above 44,000 for the first time Monday, while the S&P 500 topped 6,000 for its own closing milestone as markets awaited key inflation data and corporate earnings due later this week.

The Dow advanced 0.7% to 44,293.1, while the S&P 500 rose 0.1% to 6,001.4 and the Nasdaq Composite climbed 0.1% to 19,298.8. The trio of indexes extended rallies to records following Donald Trump's victory in the 2024 US presidential election last week.

Among sectors, consumer discretionary led the gainers, while technology posted the biggest drop.

Official data are expected to show Wednesday that US consumer inflation in October rose 0.2% sequentially and 2.4% annually, according to a Bloomberg-compiled consensus.

Core inflation, which excludes volatile food and energy components, is seen accelerating 0.3%, Morgan Stanley said. "However, we think the strength is in large part just short-run noise (amid a) temporary acceleration in cars due to the recent hurricanes and short-lived payback in shelter after the weak print in September," the report said.

Official producer prices data for last month are scheduled to be released Thursday.

Home Depot ( HD ) , Cisco ( CSCO ) , Walt Disney ( DIS ) and AstraZeneca ( AZN ) are among the companies scheduled to quarterly financial results later in the week.

In company news Monday, Tesla (TSLA) shares jumped 9%, the biggest gain on the Nasdaq and among the largest on the S&P. The electric vehicle maker's artificial intelligence opportunity will likely get fast-tracked under the Trump administration, Wedbush Securities said.

Cigna Group ( CI ) shares increased 7.3%, among the top S&P 500 gainers, after the health insurer said it is not pursuing a combination with Humana (HUM) and is on track to meet its full-year earnings target. Humana shares fell 2%.

Salesforce ( CRM ) shares rose 6.2%, the biggest gain on the Dow, as Jefferies adjusted its price target on the stock to $400 from $350 while maintaining its buy rating.

AbbVie ( ABBV ) said its two phase 2 trials assessing emraclidine in adult patients with schizophrenia and acute exacerbation of psychotic symptoms didn't meet their primary goals. The company's shares slumped 13%, the second-steepest decline on the S&P.

Celanese (CE) shares fell 7.3%, among the biggest declines on the S&P, after rating downgrades at UBS and BMO Capital.

West Texas Intermediate crude oil fell 3.1% to $68.22 a barrel Monday. Prices dropped as the threat of a supply disruption from storm Rafael in the US Gulf of Mexico eased, while China's recent stimulus plan disappointed investors, Reuters reported.

US bond markets were closed Monday for Veterans Day.

Gold dropped 2.4% to $2,629.80 per troy ounce, while silver lost 2.1% to $30.8 an ounce.