Why the semiconductor sector struggled today
The Dow shed more than 160 points on Monday, while the Nasdaq and S&P 500 also kicked off the holiday-shortened week with losses. Much of the optimism surrounding potential interest rate cuts has faded, with the chip sector also taking a breather after China said it would block the use of Intel (INTC) and Advanced Micro Devices (AMD) chips in government computers and servers.
Continue reading for more on today's market, including:
- 2 EV stocks respond to Mizuho downgrade.
- Marathon Digital stock volatility a boon for bulls.
- Plus, behind Walt Disney stock's surge; rideshare stock set to surge; and UAL under the microscope.
5 Things to Know Today
- The Biden administration charged Chinese citizens and a China-based cyber company for involvement in cyber attacks on U.S. infrastructure. (MarketWatch)
- Former President Donald Trump’s newly merged social media company, Trump Media & Technology Group (DJT), will begin trading tomorrow. (CNBC)
- Analyst: Walt Disney stock has 16.5% upside.
- This rideshare stock looks primed for fresh highs.
- United Airlines stock fell after coming under scrutiny.
There were no notable earnings reports today.
Oil Moves Higher on Russia-Ukraine Tension
Oil prices settled higher on Monday, as tensions between Russia and Ukraine escalated and the U.S. rig count declined. May-dated West Texas Intermediate (WTI) added $1.32, or 1.6%, to settle at $81.95 per barrel on the day.
Gold prices also finished higher, as investors continued to hope for three interest rate cuts and ahead of this week's inflation data. April-dated gold rose $16.70, or 0.7%, to settle at $2,174.80 per ounce on the day.