US stocks took an unpredictable turn yesterday, with the Dow Jones surging to a one-week high as tech giants led the charge. The Dow climbed over 200 points, its highest gain in three days, on the back of strong performances from Intel, Nvidia, and AMD.
Chipmakers were among the biggest winners, with Intel surging 3% after reports suggested it was close to securing manufacturing contracts from Nvidia and Broadcom. Advanced Micro Devices (AMD) and NXP Semiconductors NV (NXPI) also jumped over 2%, while ASML Holding NV (ASML) and Texas Instruments (TXN) rose over 1%.
The Nasdaq, however, remained flat, with the tech-heavy index struggling to make headway despite a strong showing from cryptocurrency-exposed stocks. MicroStrategy (MSTR), Coinbase Global (COIN), Bit Digital (BTBT), MARA Holdings (MARA), and Riot Platforms (RIOT) all jumped over 4% as Bitcoin’s price surged to its highest in three weeks.
Casino stocks also benefited from Macau gaming revenue rising 6.8% year-over-year, with Las Vegas Sands (LVS) leading the pack with a 4% gain. Wynn Resorts Ltd (WYNN) and MGM Resorts International (MGM) also posted gains over 3% and nearly 1%, respectively.
On the other hand, some of the biggest losers included Nvidia, Amazon.com (AMZN), Microsoft (MSFT), and Apple (AAPL), which all fell over 4%. Super Micro Computer (SMCI) dropped 3% after insider selling was reported, while Kroger (KR) declined 1% following the resignation of its CEO.
Yesterday’s earnings reports also saw several companies release results, including Fortrea Holdings Inc (FTRE), Gitlab Inc (GTLB), and Okta Inc (OKTA).
In other news, Barchart’s Rich Asplund notes that while some investors are optimistic about the outlook for Google, Amazon, and IonQ, others remain skeptical. He also highlights a potential opportunity in Pure Storage (PSTG) following an unusual options alert.
Overall, yesterday’s market moves were influenced by a mix of technical gains and earnings reports, with some stocks performing well ahead of expectations while others struggled to keep pace.
Source: https://www.nasdaq.com/articles/positive-corporate-news-supports-stocks-ahead-tuesdays-tariff-news