The Nasdaq and S&P 500 indexes secured healthy gains
Stocks were mixed on Monday, with the Dow slipping into the red in the last hours of trading. The Nasdaq scored a triple-digit pop amid Nvidia's (NVDA) record-breaking rally and chip sector strength, while the S&P 500 settled higher as well. Reported changes to President-elect Trump's tariff plan injected optimism into the market, with tech and auto stocks enjoying a boost. Traders are now looking ahead to another shortened week of trading, with the NYSE and Nasdaq scheduled to close on Thursday to honor the late U.S. President Jimmy Carter.
Continue reading for more on today's market, including:
- 3 chip stocks riding the sector surge.
- This retail stock looks ripe for a rebound.
- Plus, latest Disney deal to watch; bull notes circle airline giant; and a pair of downgrades drag TMUS.
5 Things to Know Today
- LG Electronics will partner with Microsoft (MSFT) in its artificial intelligence (AI) push, looking to boost consumer electronic products. (Bloomberg)
- Canadian Prime Minister Justin Trudeau has announced his resignation as Liberal Party leader, but will remain at the helm until a replacement is found. (CNBC)
- Disney deal triggers FUBO breakout.
- Airline stock lands two fresh bull notes.
- Double dose of downgrades slam T-mobile stock.
There were no earnings of note today.
Oil, Gold Suffer Monday Losses
Despite Middle Eastern demand and continued talks of stimulus updates out of China, oil prices moved lower this afternoon. February-dated West Texas Intermediate (WTI) crude fell 40 cents, or 0.5%, to settle $73.56 per barrel.
Gold suffered another drop, as U.S. Treasury yields rose on the back of a weakening dollar. Gold for January delivery shed 0.4%, to settle around $2,645.50 an ounce.