US Stock Markets Today: S&P 500, Nasdaq Rise As Nvidia, Chip Stocks Advance

The US stock markets experienced a positive day of trading, with the S&P 500 rising by over 0.74% and the Nasdaq Composite increasing by 1.77%. This upturn was primarily driven by gains in technology stocks, particularly within the semiconductor sector.

On Monday, the S&P 500 and the Dow Jones Industrial Average opened the week on a high note, buoyed by the strong performance of chipmakers. Trading commenced with optimism among investors as the market anticipated a favorable environment for tech stocks.

Market Movements

The rise in stock prices was spurred by a report from the Washington Post, which indicated that aides of President-elect Donald Trump are contemplating a reconsideration of their import tariff strategy. This news fostered a sense of confidence among investors.

In the early trading session, seven out of eleven sectoral indices were in the green, indicating broad market support. The information technology and communication services sectors were at the forefront of the rally, while sectors like utilities and real estate struggled.

Notably, shares of Nvidia, a leading chip manufacturer, saw an impressive jump of over 3%. This surge contributed significantly to the overall advancement of chip stocks on the day, following an announcement from Foxconn about record revenue for the fourth quarter.

Other Notable Stocks

Several major companies contributed to the market's positive movement, including Microsoft, Apple, Amazon.com, Walt Disney, and Goldman Sachs. However, not every company fared well; Procter & Gamble, Johnson & Johnson, and Coca-Cola faced declines in their stock prices.

As the trading day progressed, commodities also saw movement. The price of spot gold decreased by 0.56%, settling at $2,625.54 per ounce, while crude oil prices experienced an increase, with Brent crude trading up by 0.52% at $76.91 per barrel.

The Bloomberg Dollar Index fell by 0.9%, leading to a rise in the British Pound by 0.9% to $1.2536, and the Japanese yen also gained 0.5%, valued at 156.52 per dollar. Additionally, Bitcoin, the largest cryptocurrency by trade volume, rose by 0.5%, reaching $99,015.23.

Looking ahead, the markets are anticipated to remain active, with traders reacting to ongoing news and economic indicators.

Stocks, Market, Tech