Important points
Major U.S. indexes were higher as of midday Monday, led by gains in tech stocks. The S&P 500 and Nasdaq rose more than 1%, and the Dow Jones Industrial Average also rose.
Semiconductor companies come after Taiwan’s Foxconn, a supplier to Apple (AAPL), Nvidia (NVDA) and other tech giants, reported record on-demand sales for artificial intelligence (AI) in the fourth quarter. led the S&P 500’s top performers. . Nvidia stock neared intraday highs.
Streaming service FuboTV (FUBO)’s stock price soared after the company announced it would merge with Walt Disney Co. (DIS) and partner with Disney’s Hulu + Live TV. Disney stock also rose.
Shares of American Airlines (AAL) rose as analysts at Jefferies and TD Cowen upgraded the stock and raised their price targets, citing expectations for strong earnings.
T-Mobile US (TMUS) stock fell following downgrades from RBC and Wells Fargo, which warned about slowing cell phone service provider valuations and growth.
Shares of CME Group (CME) also fell after Citi analysts lowered their price targets, lowering their price targets due to concerns about slowing growth.
Oil futures rose and gold prices fell. The yield on 10-year government bonds rose. The US dollar rose against the yen but fell against the euro and pound. Most major cryptocurrencies trade in the green.
TradingView
