The Nasdaq Composite and S&P 500 indices closed slightly higher on Monday as investors flocked to buy technology stocks, ignoring uncertainty over a potential U.S. government shutdown and hawkish comments from a Federal Reserve official.

The technology sector provided the biggest boost to the S&P 500 as investors bet on growth in artificial intelligence and expected the Federal Reserve to continue cutting interest rates amid concerns over persistent inflation and labor market uncertainty.

The S&P 500 rose 17.52 points or 0.26% to close at 6661.22, the Nasdaq Composite gained 107.99 points or 0.48% to 22592.06, and the Dow Jones Industrial Average increased 69.42 points or 0.15% to 46316.71.

Robinhood Markets shares jumped more than 12% to close at an all-time high, delivering the best performance in the S&P 500 on Monday. CEO Vlad Tenev posted on social media that the brokerage platform surpassed 4 billion contracts traded in its prediction markets. Piper Sandler analysts had noted growth in prediction markets when they raised Robinhood’s price target last week.

Western Digital shares rose 9.2% after Morgan Stanley and Rosenblatt Securities analysts raised their price targets for the data storage stock, citing increased demand for hard drives to support artificial intelligence. Both research firms also raised price targets for Seagate Technology (STX), which rose 5.3%.

Coinbase Global, operator of the largest U.S. cryptocurrency exchange, shares rose 6.8% alongside gains in Bitcoin and other major cryptocurrencies. Last week, SEC Commissioner Hester Peirce called for increased regulatory clarity around cryptocurrencies, which could help drive growth in the industry.

AppLovin shares, a company providing marketing and monetization tools for mobile app developers, jumped 6.3% to a record high after Morgan Stanley raised its price target. Analysts highlighted the upcoming beta launch of AppLovin’s “Axon Ads Manager,” a platform designed for non-gaming advertisers, noting this launch could boost momentum outside the gaming sector.

Carnival shares fell 4% after the cruise operator reported quarterly results. Although the company beat revenue and adjusted earnings expectations, highlighting strong bookings, Carnival issued lower-than-expected net revenue guidance, a measure of passenger revenue after commissions and other costs per cruise day.

Furniture companies faced pressure after former President Donald Trump announced plans to impose significant tariffs on imported furniture. While details of the tariff implementation remain uncertain, the news negatively impacted companies that import a large share of their products. Williams Sonoma, the parent company of several home goods brands, fell 4.7%, marking the largest loss among all S&P 500 stocks.