US stock indices rebounded on Friday, January 3, snapping a five-session losing streak as tech stocks led the recovery. The S&P 500 rose 1.3%, driven by gains in Super Micro Computer (SMCI) shares, which surged 10.9% after accounting-related issues were addressed.
The server maker’s stock volatility was temporarily eased, with CEO assurances on filing deadlines helping to alleviate concerns of delisting from the Nasdaq. Nuclear energy stocks also climbed, boosted by increased demand from artificial intelligence data centers.
Tesla (TSLA) shares rose 8.2%, recovering from previous losses after reporting a record sales figure in China for 2024. This positive news contrasts with the carmaker’s below-expected vehicle deliveries for the fourth quarter. In contrast, Dollar Tree (DLTR) fell 4.1% due to concerns over same-day delivery’s impact on profit margins and its transition to multi-price point format.
Celanese (CE), brewing giant Molson Coors (TAP), and other alcoholic beverage producers also saw their shares decline after US Surgeon General Dr. Vivek Murthy warned about elevated cancer risks associated with alcohol consumption, calling for additional warning labels.
Source: https://www.investopedia.com/s-and-p-500-gains-and-losses-today-index-jumps-as-supermicro-and-tesla-bounce-back-8768721