U.S. stock markets had a mixed day on Monday, even after positive news about a trade deal with the European Union. While some stocks hit record highs, others saw drops. Investors are now watching closely for important updates this week, including the Federal Reserve’s interest rate decision, inflation and job data, and major earnings reports.
Keypoints:
- S&P 500 gained slightly, Nasdaq rose 0.3%, Dow fell 0.1%
- Super Micro Computer (SMCI) jumped over 10%
- AMD rose 4.3% after raising prices on AI chips
- Nike gained 3.9% following a JPMorgan upgrade
- Albemarle dropped nearly 11% due to lithium market concerns
- Revvity fell 8.3% after lowering profit outlook
- Centene slipped 5.4% following a stock downgrade
Market Highlights
Super Micro Computer (SMCI) led the S&P 500, jumping more than 10%. The stock rose after news that the U.S. may ease tech export rules to China. Meanwhile, AMD gained 4.3% as it raised prices for its new AI chips, showing confidence in competing with Nvidia. Analysts also raised AMD’s price target ahead of its earnings report.
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Nike shares rose 3.9% after JPMorgan upgraded the stock, citing progress in the company's recovery plan and growth potential during the upcoming soccer World Cup. On the downside, Albemarle dropped almost 11% as lithium prices remain weak. Revvity also fell 8.3% after lowering its yearly profit outlook, and Centene dropped 5.4% due to concerns about its healthcare business.