Nasdaq Jumps 1.11 Precent as Tech Rebounds, Dow Slips 0.07 Percent
(MENAFN) U.S. equities finished Monday’s session split, with a rebound in technology shares lifting the Nasdaq while the Dow edged lower, as traders turned their attention to a heavy week of corporate earnings.
The Nasdaq Composite surged 1.11%, or 290.85 points, to settle at 26,430.89. The S&P 500 gained 0.41%, or 31.29 points, to end at 7,690.73. The Dow Jones industrial average slipped 36.38 points, or 0.07%, to close at 51,966.03.
The Volatility Index (VIX), often called the market’s “fear index,” tumbled 7.95% to 18.4.
The tech recovery followed a steep sell-off in artificial intelligence (AI) stocks last week, when worries that elevated interest rates could curb spending on AI infrastructure weighed heavily on the sector.
Chipmakers led Monday’s bounce. Micron Technology climbed 2.97%, Advanced Micro Devices (AMD) rose 1.76% and Nvidia added 1.38%. Intel gained 2.4% after JPMorgan analysts upgraded their rating on the stock.
Analysts said investors are now fixated on this week’s earnings reports, particularly for signs of how heavy AI spending by the largest tech firms is affecting their bottom lines. SpaceX is due to report Tuesday, followed Wednesday by Meta, Tesla and IBM, and all four are expected to draw intense scrutiny.
Netflix, General Motors, RTX, United Airlines, Procter & Gamble and Lockheed Martin also report this week. Investors are meanwhile tracking the direction of oil prices and bond yields.
European stocks end lower
European markets finished in the red. The pan-European Stoxx Europe 600 fell 0.8% to 639.56 points.
Britain’s FTSE 100 shed 1.08% to 10,764.69, Germany’s DAX 40 lost 1.18% to 25,319.77, and France’s CAC 40 dropped 1.11% to 7,868.05.
Italy’s FTSE MIB 30 slid 1.55% to close at 49,086.27, while Spain’s IBEX 35 declined 1.49% to end at 19,039.30.
The Nasdaq Composite surged 1.11%, or 290.85 points, to settle at 26,430.89. The S&P 500 gained 0.41%, or 31.29 points, to end at 7,690.73. The Dow Jones industrial average slipped 36.38 points, or 0.07%, to close at 51,966.03.
The Volatility Index (VIX), often called the market’s “fear index,” tumbled 7.95% to 18.4.
The tech recovery followed a steep sell-off in artificial intelligence (AI) stocks last week, when worries that elevated interest rates could curb spending on AI infrastructure weighed heavily on the sector.
Chipmakers led Monday’s bounce. Micron Technology climbed 2.97%, Advanced Micro Devices (AMD) rose 1.76% and Nvidia added 1.38%. Intel gained 2.4% after JPMorgan analysts upgraded their rating on the stock.
Analysts said investors are now fixated on this week’s earnings reports, particularly for signs of how heavy AI spending by the largest tech firms is affecting their bottom lines. SpaceX is due to report Tuesday, followed Wednesday by Meta, Tesla and IBM, and all four are expected to draw intense scrutiny.
Netflix, General Motors, RTX, United Airlines, Procter & Gamble and Lockheed Martin also report this week. Investors are meanwhile tracking the direction of oil prices and bond yields.
European stocks end lower
European markets finished in the red. The pan-European Stoxx Europe 600 fell 0.8% to 639.56 points.
Britain’s FTSE 100 shed 1.08% to 10,764.69, Germany’s DAX 40 lost 1.18% to 25,319.77, and France’s CAC 40 dropped 1.11% to 7,868.05.
Italy’s FTSE MIB 30 slid 1.55% to close at 49,086.27, while Spain’s IBEX 35 declined 1.49% to end at 19,039.30.
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