US stocks surged on Monday, driven by prominent tech companies such as Nvidia, Alphabet, and Meta Platforms. The market rally coincided with the commencement of the 2025 Consumer Electronics Show, where Nvidia’s CEO is slated to deliver a keynote address. The tech sector’s upturn was fueled by renewed enthusiasm around artificial intelligence.
Nvidia, a key player in the tech industry, witnessed a significant jump in its stock price, soaring by up to 5% and nearing all-time highs. Concurrently, the Nasdaq 100 Index recorded a robust increase of over 1%, while the S&P 500 also experienced a notable uptick of more than 0.5%. However, the Dow Jones Industrial Average closed marginally lower amidst the overall market exuberance.
During his anticipated keynote at the Consumer Electronics Show, Nvidia’s CEO, Jensen Huang, is expected to provide insights into the company’s data center operations and discuss its expansion into the robotics sector. Analysts, including Vivek Arya from Bank of America, anticipate Nvidia’s strategic focus on robotics and the emergence of the “physical AI” concept.
The positive momentum in the chip sector was further bolstered by Foxconn’s impressive earnings report. As a major contract manufacturer of chips and electronic devices, Foxconn reported a substantial 15% year-over-year revenue growth. Consequently, shares of prominent chip companies like Micron, ASML, and Taiwan Semiconductor surged by 8%, 6%, and 11%, respectively.
By the closing bell on Monday, key US indexes stood as follows:
– S&P 500: 5,975.38, up 0.55%
– Dow Jones Industrial Average: 42,706.56, down 0.06% (-25.57 points)
– Nasdaq Composite: 19,864.98, up 1.24%
The US dollar witnessed volatile fluctuations following reports in The Washington Post suggesting a potential revision of tariff policies under the incoming Trump administration. The initial speculations on revised tariff plans had stirred concerns about inflation resurgence, impacting the Federal Reserve’s flexibility in managing interest rates. However, President Trump refuted these claims, asserting the continuity of his tariff strategy.
With a shortened trading week ahead due to the remembrance of former President Jimmy Carter’s passing, market participants remain engaged in various developments. Notable events include the realization of gains for early Bitcoin investors, projections of a market correction in 2025, and FuboTV’s remarkable surge following a collaboration with Disney.
Moreover, commodities and financial markets also witnessed fluctuations:
– West Texas Intermediate crude oil declined by 0.73% to $73.42 per barrel.
– Brent crude, the global benchmark, dipped by 0.42% to $76.19 per barrel.
– Gold prices experienced a 0.36% decrease, settling at $2,645.10 per ounce.
– The 10-year Treasury yield saw a 2 basis point increase, reaching
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