Wall Street opened the week on a mixed note on Monday. Investors continue to pile into AI-driven mega-cap stocks while taking a more cautious stance on the broader market after last week's unexpectedly hawkish Federal Reserve meeting.

By midday in New York, the S&P 500 was up 0.2%, the Nasdaq 100 gained 0.6%, and both the Dow Jones Industrial Average and Russell 2000 edged lower. Among the Magnificent Seven, Nvidia Corp. (NASDAQ:NVDA) jumped 3.3%, lifting its market capitalization to $5.08 trillion and further cementing its dominance.

Amazon.com Inc. (NASDAQ:AMZN) extended its post-earnings surge, climbing another 4.7% after Friday's 9.6% rally, its strongest two-day performance since November 2022.

Kenvue Inc. (NYSE:KVUE) was the standout gainer of the day, soaring 16% after Kimberly-Clark Corp. (NYSE:KMB) announced a $48.7 billion takeover at $21.01 per share. Kimberly-Clark shares sank 13% on the news.

In earnings, IDEXX Laboratories Inc. (NASDAQ:IDXX) rose 14% after beating Wall Street estimates and raising its full-year profit outlook.

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