NEW YORK — U.S. stocks displayed a nuanced performance Monday, with technology and semiconductor shares driving significant gains, led by Nvidia’s remarkable surge to a new market valuation milestone.
The Nasdaq Composite emerged as the day’s standout performer, jumping 1.2% to 19,864.98, while the S&P 500 advanced 0.6% to 5,975.38. In contrast, the Dow Jones Industrial Average experienced a modest 0.1% decline, closing at 42,706.56.
Nvidia emerged as the trading session’s headline maker, with shares climbing more than 3.4% to establish a fresh record and push the company’s market capitalization beyond $3.6 trillion. The semiconductor designer’s performance was bolstered by positive signals from Taiwan-based Foxconn and continued investor enthusiasm for artificial intelligence technologies.
“There were big gains — no surprise, right? — from AI,” noted Christopher Low, chief economist at FHN Financial. He also highlighted strength in the pharmaceutical sector as another notable market dynamic.
In a dramatic development, streaming platform Fubo saw its shares skyrocket over 251% following Disney’s announcement of a merger with Hulu+ Live TV service. Disney’s own shares closed slightly lower, down 0.1%.
The day’s trading reflected ongoing investor optimism in technology and strategic media sectors, underscoring the market’s continued appetite for innovative and transformative business models.
Market analysts suggest continued volatility as investors closely monitor corporate performances and potential strategic shifts across various industries.
