A chip on its shoulder: Wall Street awaits Nvidia
Nasdaq, S&P 500 advance; Dow ends slightly lower
Energy leads S&P sectors gainers; Industrials sole decliner
Dollar down; gold up ~2%; bitcoin, crude both up >3%
U.S. 10-Year Treasury yield edges down to ~4.42%
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A CHIP ON ITS SHOULDER: WALL STREET AWAITS NVIDIA
Wall Street was mixed on Monday, with the S&P 500 and the Nasdaq reclaiming a fraction of some ground lost in the course of the last, bruising week.
The S&P 500 .SPX gained 0.39%, the Nasdaq Composite .IXIC gained 0.60%, while the Dow Jones Industrial Average .DJI slipped 0.13%.
It would appear, at first glance, that aside from some minor jostling over how best to play a second Trump administration, investors kept most their eggs in the Nvidia NVDA.O basket.
The AI darling is set to post its quarterly earnings on Wednesday, and market participants will no doubt sift through the results for clues regarding the demand and sustainability of this brave new technology which has driven much of the stock market's gains this year and last.
In the end, Nvidia's shares lost just 1.3% on reports of a possible overheating issue with its new Blackwell chips, while the broader chip index .SOX advanced 1.1%.
Big box retailers Walmart WMT.N, Lowe's Companies LOW.N and Target TGT.N are also on deck and their earnings will be scrutinized against the backdrop of consumer demand and the holiday shopping season.
Tesla's TSLA.O shares gained 5.6% on a Bloomberg report that President-elect Trump will ease restrictions on self-driving cars.
All was mostly quiet on the economic front, save for an unexpected improvement in NAHB's Homebuilder Sentiment report.
Through the remainder of the week, housing starts/building permits, existing home sales, flash PMI and University of Michigan's final take on current month consumer sentiment are all on the fairly light docket.
Here's your closing snapshot:
(Stephen Culp)
*****
FOR MONDAY'S EARLIER LIVE MARKETS POSTS:
STOCKS SURGED POST-ELECTION, BUT SUDDEN SETBACK NOT A SURPRISE, SAYS CFRA - CLICK HERE
BRACE YOURSELF, BUT BITCOIN MAY ABOUT TO GO MAINSTREAM - CLICK HERE
BUILDER SENTIMENT IMPROVES TO LEAST CRANKY LEVEL SINCE APRIL - CLICK HERE
U.S. STOCKS CHURN, AWAIT NVIDIA, RETAIL EARNINGS - CLICK HERE
BENCHMARK TREASURY YIELD REMAINS ON A RUN - CLICK HERE
SHELL, BESI, ASTRAZENECA IN BARCLAYS' 14 HIGH CONVICTION EUROPEAN STOCK IDEAS - CLICK HERE
EUROPE'S U.S. LOCAL GOODS EXPOSURE COULD HELP OFFSET TARIFFS - CLICK HERE
WILL AMERICA MAKE LUXURY GREAT AGAIN? - CLICK HERE
STOXX WAVERS AROUND PARITY - CLICK HERE
EUROPE BEFORE THE BELL: QUIET START TO THE WEEK - CLICK HERE
BOJ OPEN TO TIGHTENING, MUM ON TIMING - CLICK HERE
Closing snapshot https://reut.rs/49d13Ff
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