Wall Street Today: DJIA, S&P 500, Nasdaq Comp Rise as AAPL, META, CSCO Gains Beat TSLA, INTC Losses
The Dow-30, S&P 500 and Nasdaq Composite rose Monday as strength for key Big Techs like Apple, Meta and Cisco outweighed weakness for Tesla, Intel and some other tech names.
The $Dow Jones Industrial Average (.DJI.US)$ added 313.69 points (0.6%) to a 49,412.40 close, while the $S&P 500 Index (.SPX.US)$ gained 34.62 ticks (0.5%) to 6,950.23 and the $Nasdaq Composite Index (.IXIC.US)$ rose by 100.11 points (0.4%) to 23,601.36.
Macro
The indexes rose in part on gains for $Cisco (CSCO.US)$(3.2% better) and $Apple (AAPL.US)$(up 3%) – key members of all three major market measures. Adding to the positives, S&P 500 and Nasdaq member $Meta Platforms (META.US)$ gained 2.1% as well.
Other Big Techs to rise included $CoreWeave (CRWV.US)$ (5.7% better), $Oracle (ORCL.US)$ (which added 3%) and $Broadcom (AVGO.US)$ (ahead 1.5%).
Such gains outweighed losses from Big Techs like $Intel (INTC.US)$(down 5.7%), $Advanced Micro Devices (AMD.US)$ and $NEBIUS (NBIS.US)$ (which both shed 3.2%) and $Tesla (TSLA.US)$(off 3.1%).
Intel fell for a second straight session since unveiling poorly received forward guidance last week, while Tesla eased ahead of earnings due out Wednesday. The electric-vehicle giant has generally been on a downtrend since rising 30.3% between mid-November and late December.
All in, Wall Street's three major indexes rose in a quiet day ahead of upcoming earnings later this week from "Magnificent Seven" stocks Meta, Tesla and Microsoft.
The Federal Reserve will also issue its latest rate-cut decision Wednesday afternoon, but Fed Funds futures only show a 2.8% probability of a 25-point easing.
In economic news, U.S. President Donald Trump threatened 100% tariffs on Canada over the weekend if Ottawa signs a free-trade agreement with China, which Canada denied is in the works.
Meanwhile, investors continued to monitor odds of a U.S. government shutdown that could begin Feb. 1 if Congress fails to pass budget measures by then.
Some Democrats have balked at approving funds for the U.S. Homeland Security Department after the agency's immigration agents shot and killed a second person during protests in Minneapolis.
Such uncertainties helped push $Gold (LIST2110.US)$ and especially $Silver (LIST2093.US)$ to new record highs in a "flight-to-safety" trade.
$Silver Futures (MAY6) (SImain.US)$ added as much as 16.2% to a $117.70-an-ounce intraday peak in New York Comex trading, while $Gold Futures (APR6) (GCmain.US)$ rose 2.6% to a $5,107.90-per-ounce intraday record in New York.
Cryptocurrencies – which sometimes act like "digital gold" and see flight-to-safety buying – likewise gained ground after easing during the weekend.
$Bitcoin (BTC.CC)$ added 1.7% to $87,832.04 as of shortly before 4:45 p.m. New York time, while $Ethereum (ETH.CC)$ rose 4% to $2,910, $Solana (SOL.CC)$improved by 5.1% to $123.96 and $Ripple (XRP.CC)$gained 4.4% to $1.90.
Moo-vers
The "Magnificent Seven" stocks took their cue from the broader market and mostly rose Monday.
$Apple (AAPL.US)$and $Meta Platforms (META.US)$ led the way higher with their previously mentioned gains of 3% and 2.1%, respectively. $Alphabet-A (GOOGL.US)$ followed closely behind by adding 1.6%, while $Microsoft (MSFT.US)$ improved by 0.9%.
However, $Tesla (TSLA.US)$led the Mag-7 decliners with its aforementioned 3.1% of red ink, followed by $NVIDIA (NVDA.US)$ (off 0.6%) and $Amazon (AMZN.US)$ (which lost 0.3%).
Elsewhere on Wall Street, Monday's noteworthy percentage decliners included:
-- Rare-earth stocks other than $USA Rare Earth (USAR.US)$. USAR gained 7.9% on word the U.S. government will take a 10% stake in the firm – gains that didn't extend to the rest of the sector. Instead, rare-earth stocks to see significant pullbacks include $United States Antimony (UAMY.US)$ (off 12.4%), $Critical Metals (CRML.US)$ (down 11.3%), $MP Materials (MP.US)$ (8.8% weaker) and $Energy Fuels (UUUU.US)$ (which gave back 8.5%).
-- Select space stocks, which pulled back in continued up-and-down trading despite generally rising since mid-December. Monday's losers included $Redwire (RDW.US)$ (off 12.5%), $Rocket Lab (RKLB.US)$ (9.5% weaker) and $AST SpaceMobile (ASTS.US)$ (which shed 7.7%).
-- Certain crypto stocks, which fell despite cryptocurrencies' Monday gains. $BitGo Holdings (BTGO.US)$ (off 8.1%) led decliners as it continued to ease following last week's initial public offering. Other crypto stocks to lose ground included $IREN Ltd (IREN.US)$ , (7.6% weaker), $Applied Digital (APLD.US)$ (off 4%), $Coinbase (COIN.US)$ (1.6% lower), $Strategy (MSTR.US)$ (off 1.6%) and $Circle (CRCL.US)$ (down 0.6%).
Conversely, Monday's major percentage gainers included:
-- $SkyWater Technology (SKYT.US)$, which added 3.3%. The semiconductor-development firm rose on word that quantum-computing company $IonQ Inc (IONQ.US)$ will buy it for $1.8 billion. However, IONQ sank 8.2% on the news.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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