January 28, 2025 19:52 GMT
US STOCKS: Late Equities Roundup: Tech Stock Lead Strong Session Gains
US STOCKS
- US Stock markets continue to unwind yesterday's sell-off tied to China's AI startup DeepSeek. New competition for US AI developers rattled global markets Monday, tech-heavy Nasdaq -3.65% as leading chip maker stocks tumbled as much as 25%. Currently, the DJIA trades up 123.63 points (0.28%) at 44836.52, S&P E-Minis up 54.5 points (0.9%) at 6101.5, Nasdaq up 409.7 points (2.1%) at 19753.18.
- Information Technology and Communication Services sectors continued to outperform in late trade, semiconductors outperforming software & hardware makers: Crowdstrike +8.98%, Nvidia +7.04% after falling over 18% on Monday, Palantir +5.82% and Salesforce +4.70%.
- Interactive media and entertainment shares helped support the Communication Services sector: Meta +2.97%, Live Nation +1.71% and Alphabet +1.63%.
- On the flipside, Utilities and Energy sectors underperformed in the first half, electricity providers and oil companies weaker with NextEra Energy -4.7%, Entergy -3.69%, Edison International -3.26%, Valero -2.59% while Diamondback Energy slipped -2.0%.
- Earnings update after the close: NextEra Energy, Starbucks, Qorvo and Stryker Corp. Followed by a heavy Wednesday schedule: Super Micro Computer, Corning, Danaher, Norfolk Southern, Flex, Brinker International, Lennox Int, Hess Corp, MSCI Inc, General Dynamics, Otis Worldwide, Stifel Financial, T-Mobile US, Nasdaq, IBM, Waste Management, Tesla, ServiceNow, Lam Research Corp, Meta Platforms, Microsoft, Ameriprise Financial, Wolfspeed, Western Digital, United Rentals, Teradyne, Las Vegas Sands Corp, Raymond James Financial, Whirlpool Corp and Dow Inc.
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