Wall Street's main indexes closed higher as shares of chipmaker Nvidia surged following a bullish note from Morgan Stanley, leading gains in other megacap growth stocks
The S&P 500 climbed 0.58% to end the session at 4,489.72 points. The Nasdaq gained 1.05% to 13,788.33 points, while Dow Jones Industrial Average rose 0.07% to 35,307.63 points.
"It's the first day in a while that tech has really significantly outperformed," said Jay Hatfield, CEO of Infrastructure Capital Advisors in New York. "That's indicative of the fact that you have this blockbuster Nvidia report coming up and that could support the tech market pretty substantially." Nvidia, one of several tech companies rallying this year on optimism about AI, is due to report quarterly results next week.
"NVIDIA remains our top pick, with a backdrop of the massive shift in spending towards AI, and a fairly exceptional supply-demand imbalance that should persist for the next several quarters," Morgan Stanley analysts said in a note on Monday.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
S&P 500, Nasdaq close higher Monday as tech stocks make a comeback: Live updatesThe S&P 500 and the Nasdaq rose Monday as Wall Street was lifted higher by a rebound in chip stocks and tech names. The Dow added 0.07%. The S&P 500 rose 0.58%. The Nasdaq gained 1.05%.
Lire la suite »
Dow, S&P 500 and Nasdaq post gains as big tech stocks reboundU.S. stocks closed higher on Monday, with the Dow flipping positive near the closing bell, as technology stocks bounced back. The Dow Jones Industrial...
Lire la suite »
Nvidia rallies more than 5% as Morgan Stanley cheers a buying opportunityNvidia shares rallied Monday after one analyst confirmed that the GPU maker is his "top pick" among companies expected to benefit from AI.
Lire la suite »
Nvidia stock jumps 7% on Morgan Stanley upgrade as it rides A.I. waveAs long as companies are interested in generative artificial intelligence, Nvidia stands to benefit.
Lire la suite »
BLACKPINK's 'Shut Down' becomes the group's 15th MV to surpass 500 million views | allkpopBLACKPINK's sensational music video 'Shut Down' has achieved a remarkable milestone, crossing the impressive threshold of 500 million views …
Lire la suite »