Investors faced uncertainty in the markets on Monday as President Donald Trump’s tariffs set to take effect on Tuesday weighed heavily. The S&P 500 declined 1.7%, while the Nasdaq fell 2.6%. However, other stocks saw significant gains.
Broadcom shares dropped ahead of the company’s earnings report on Thursday. Meanwhile, Kroger’s stock plummeted after CEO Rodney McMullen resigned following an investigation into his personal conduct. Nvidia shares also fell as investors expressed concerns about AI-related spending and new tariffs.
On the flip side, Palantir shares rose as analysts predicted the company could benefit from initiatives by Elon Musk’s “Department of Government Efficiency.” Super Micro Computer shares declined alongside Nvidia, due to uncertainty over Trump’s tariffs on the AI industry.
Tesla’s stock surged 3% after Morgan Stanley analyst Adam Jonas upgraded it to a top pick for US autos. The surge is attributed to a potential upside of over 50% from Tesla’s current share price. Coinbase, Robinhood, and Strategy shares also rose following Trump’s announcement of a strategic crypto reserve encompassing Bitcoin and other cryptocurrencies.
Source: https://finance.yahoo.com/news/tesla-broadcom-kroger-strategy-coinbase-134930587.html