Tech Giants Lead the Charge as US Stocks Soar
Monday’s market surge was driven by the tech sector, with Nvidia, Alphabet, and Meta Platforms leading the pack. The rally coincided with the highly anticipated 2025 Consumer Electronics Show, where Nvidia’s CEO Jensen Huang is set to deliver a keynote speech.
Nvidia Takes Center Stage
Huang’s keynote address, scheduled for 6:30 p.m. PST, is expected to provide an update on the company’s data center business and its foray into the robotics industry. Analysts are eagerly anticipating insights into Nvidia’s “physical AI” theme and its strategy for the robotics market. As a result, Nvidia shares surged as much as 5%, nearing a record high.
Chip Stocks Get a Boost
The chip sector also saw significant gains, thanks in part to Foxconn’s strong earnings report. The contract manufacturer reported a 15% year-over-year growth in revenue, sending shares of chip companies like Micron, ASML, and Taiwan Semiconductor soaring. The sector’s growth was further fueled by expectations of increased demand for AI-powered devices.
Market Snapshot
At the 4:00 p.m. closing bell on Monday, US indexes stood at:
- S&P 500: 5,975.38, up 0.55%
- Dow Jones Industrial Average: 42,706.56, down 0.06% (-25.57 points)
- Nasdaq composite: 19,864.98, up 1.24%
Dollar Volatility
The US dollar experienced volatile swings on Monday, following reports of the Trump administration’s tariff plans. However, Trump later disputed the reports, stating that his tariff policy would not be watered down.
Shortened Trading Week
This week’s trading will be shortened, with the stock market closed on Thursday in remembrance of former President Jimmy Carter.
Other Market News
- Patient retail bulls who invested in bitcoin early are cashing in on their gains.
- An investor predicts that the stock market boom will end in 2025 due to concerns over US deficits.
- FuboTV soared 250% after striking a deal with Disney to combine its streaming service with Hulu.
- Warren Buffett’s favorite internet stock was named a “top pick” by Citi.
Commodities and Crypto
- West Texas Intermediate crude oil dropped 0.73% to $73.42 a barrel.
- Brent crude fell 0.42% to $76.19 a barrel.
- Gold was 0.36% lower at $2,645.10 an ounce.
- The 10-year Treasury yield rose 2 basis points to 4.625%.
- Bitcoin surged 3.84% to $102,123.
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