Nasdaq and S&P 500 snatch record-high closes after late-afternoon surge

4:10pm: Tech stocks drive afternoon rally The Dow recovered some ground in the afternoon, closing Monday down 85 points, 0.3%, at 34,394. The Nasdaq gained 105 points, 0.7%, to 14,174, a record close, and the S&P 500 swung into positive territory, adding 8 points, 0.2%, to 4,255, also a record.    Netflix Inc (NASDAQ:NFLX) and Apple Inc (NASDAQ:AAPL) were among the tech stocks that pulled the Nasdaq out of the fire. Shares of both improved more than 2%. 12:05pm: Tesla and Bitcoin rise on Musk's plan to again accept the cryptocurrency The Dow steadily declined over the morning to a 224 point deficit (0.7%) at 34,255 at midday. The Nasdaq, meanwhile, added 54 points, 0.4%, to 14,124, and the S&P 500 ticked down 10 points, 0.2%, to 4,237. "US markets have seen a little bit of a mixed open with the Russell 2000 edging higher, while the Dow and S&P 500 appear to be underperforming, as US 10-year yields edge backup after last week’s big drop to a three-month low," CMC Markets UK Chief Market Analyst Michael Hewson wrote. Tesla Inc (NASDAQ:TSLA) shares are up more than 1% to $617.65 after CEO Elon Musk said over the weekend that the company would resume Bitcoin transactions. The cryptocurrency was up more than 12% to $40,689. 9:40am: Proactive North America headlines: Major Precious Metals Corp (CSE:SIZE) (OTCMKTS:SIZYF) (FRA:3EZ) announces C$10M private placement to fund Skaergaard project exploration in Greenlandannounces C$10M private placement to fund Skaergaard project exploration in Greenland Vicinity Motor Corp (CVE:VMC) (OTCQX:BUSXF) (FRA:6LG) receives C$6M initial order from Calgary Transit for Vicinity Lightning EV buses Avalon GloboCare Corp (NASDAQ:AVCO) inks definitive agreement to acquire Chinese cell therapy company Senlang Biotechnology Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) intersects high grade gold and silver at the Main Claim of the Philadelphia vein PlantX Life Inc (CSE:VEGA) (OTCQB:PLXTF) (FRA:WNT1) begins selling its first products on Walmart Canada Marketplace Ipsidy Inc (OTCQB:IDTY) changes its name to authID.ai and adds new leadership in a rebrand to reflect its expertise Planet 13 Holdings Inc's (CSE:PLTH) (OTCQB:PLNHF) California SuperStore to launch with Tinley’s cannabis-infused beverages in July Gungnir Resources Inc (CVE:GUG) (OTCPINK:ASWRF) (FRA:AMO1) kicks off geophysics program with an induced polarization survey at the Knaften gold property Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) (FRA:X6C) samples high-grade target; expands footprint at McGill CanyonAmerican Resources Corporation (NASDAQ:AREC) set to join the Russell Microcap Index LexaGene Holdings Inc (OTCQB:LXXGF) (CVE:LXG) (FRA:5XS2) sells MiQLab diagnostic testing system to Alpine Veterinary Hospital in California Phunware Inc (NASDAQ:PHUN) set to join Russell Microcap Index in profile-raising move CO2 GRO Inc (CVE:GROW) (OTCQB:BLONF) (FRA:4021) wins second order for its technology from Canadian-licensed cultivator Karora Resources Inc (TSE:KRR) enlists partner in push towards net zero emissions target Aion Therapeutics Inc (CSE:AION) (OTCMKTS:ANTCF)  brings in over C$1.4M after closing private placing Ready Set Gold Corp (CSE:RDY) (OTCPINK:RDYFF) (FRA:0MZ) to receive early repayment of US$1.3M convertible debt and appoints Peter Simeon to its board Real Luck Group Ltd (CVE:LUCK) (OTCQB:LUKEF) gaming subsidiary Luckbox forges marketing partnership with gaming-focused Turkish firm TechX Technologies Inc (CSE:TECX) (OTCMKTS:TECXF) (FRA:C0B1) appoints Dr John Henderson as its new COO AIM ImmunoTech Inc (NYSEAMERICAN:AIM) (FRA:HXB2) says Ampligen featured in medical journal as potential treatment for cancer patients infected with SARS-CoV-2 Globex Mining Enterprises  Inc (TSE:GMX) (OCTMKTS:GLBXF) (FRA:G1MN) to sell Québec project to major Yamana Gold in deal worth over C$15M Mindset Pharma Inc (CSE:MSET) (OTCQB:MSSTF) (FRA:9DF) says InterVivo releases first data set for jointly developed Cooperative Psychedelics Evaluation Platform program NEO Battery Materials Ltd (CVE:NBM) (OTCMKTS:NBMFF) inks MOU with Korea Metal Silicon for advancement of low-cost, scalable silicon anodes BMEX Gold Inc (CVE:BMEX) says high-grade gold system had now been confirmed at its King Tut project in Quebec 9.38am: Wall Street starts in negative territory The main indices on Wall Street opened in negative territory on Monday morning as investors seemed content to keep their powder dry ahead of the Fed meeting later this week. Shortly after the opening bell, the Dow Jones Industrial Average was down 0.17% at 34,419, while the S&P 500 dropped 0.11% to 4,242 and the Nasdaq fell 0.03% to 14,065. Meanwhile, shares in Tesla managed a slightly positive start to the week, rising 0.4% to US$612.15 in early trading following Elon Musk’s plans to allow the company to accept Bitcoin payments again once the mining process for the digital currency used at least 50% clean energy. Bitcoin itself also received a bump, rising 12.7% over the last 24 hours to US$40,569. 7:50am: Wall Street heads for a mixed start Wall Street is expected to open on a mixed footing on Monday as traders search for direction ahead of the Fed meeting on Wednesday. The Dow Jones Industrial Average has been called 15 points lower at 34,342, but the S&P 500 and the Nasdaq are expected to add 2 points to 4,238 and 47 points to 14,032 respectively. Traders are waiting for the Fed’s announcement to see if it will follow the ECB’s dovish stance expressed last week, with the prospect of cheaper money for longer and a steady flow of stimulus keeping equities underpinned. “Investors will be scrutinising the announcement and pursuant press conference for any signs the Fed is pivoting away from its stance that the current spike in inflation is temporary,” said Sophie Griffiths, analyst at OANDA. “Equity markets are broadly buying into the Fed’s mantra that the rise in inflation is transitory. Any sign that central banks are looking to rein in monetary policy could spook investors. Clearly, no central bank is thinking of hiking interest rates just yet. However, the time to start reducing bond purchases could be approaching.” Four things to watch for on Monday: Firms reporting earnings at the start of the week include engineering group Argan Inc (NYSE:AGX), Concrete Pumping Holdings Inc (NASDAQ:BBCP) and car parts firm Motorcar Parts of America Inc (NASDAQ:MPAA) There may be interest in some major AGMs getting underway today from car giant General Motors Co (NYSE:GM) and video game giant Activision Blizzard Inc (NASDAQ:ATVI) Meanwhile, Bitcoin and Tesla Inc (NASDAQ:TSLA) will be in focus after Elon Musk tweeted that the car maker will accept payments in the crypto once mining is performed with 50% clean energy On the macro front, the diary is a little thin however investors may be interested in the latest US consumer inflation expectations data