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US stocks closed the session mixed on Monday but the Dow Jones Industrial Average (^DJI) hit a new record, up 0.3% as investors prepared for the first key inflation update of the year and the next wave of earnings reports.

The S&P 500 (^GSPC) ended the session slightly below the flatline after a record-setting week that saw the benchmark end above 5,000 for the first time.

The tech-heavy Nasdaq (^IXIC) wavered during the session to close down 0.3%.

Shares of chipmaker Nvidia (NVDA) rose 2% to hit another record on Monday before paring gains. British semiconductor designer Arm (ARM) also surged to a new record, extending its rally from last week.

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