Wall Street indexes rose on Monday, after last week’s loss. A report said that the new Trump administration may adopt a more moderate tariff policy.
Chip stocks gained in the US on Monday, which also helped to boost major stocks.
The Dow Jones Industrial Average rose by 0.2% at the time this article was written, and the S&P 500 Index rose 0.8%. Nasdaq Composite rose 1.3% since the previous closing.
On Monday, chip stocks like Foxconn NVIDIA and Broadcom gained, helping sentiments in the market.
The last two weeks have seen the US major stock indexes trade in a volatile and choppy manner. David Morrison said that the price fluctuations over the holidays can largely be attributed to year-end window shopping and rebalancing.
Morrison stated that “if so, this week will herald the return of ‘normalcy’. However, investors are reminded to take note of Thursday’s US market closure, as it is a day of national mourning for former president Jimmy Carter’s death.”
It may disrupt the trading, but window dressing and rebalancing should have been completed by now.
A Washington Post article suggested that Donald Trump, the US president-elect, could adopt a tariff policy less aggressive. The sentiment was also boosted.
Investors will also be watching the US economic release later in the week.
On Friday the December Jobs Report will be published. This will be the final piece of information before the US Federal Reserve meets at the end January.
Auto stocks jump
Ford, General Motors and other automakers saw their shares rise sharply Monday following reports about Trump’s tariff reduction plan.
According to the Washington Post, Trump plans to focus his tariffs on specific industries.
Trump can only apply tariffs to sectors which are vital for the national security or economy.
Ford shares were almost 2% higher at the time this article was written, and General Motors’ were 3.9% higher than the close of the prior day.
FuboTV is a hit: Here’s Why
FuboTV shares jumped more than 170% Monday, after Walt Disney was getting closer to signing a contract with the company.
According to the report, Walt Disney was closer to merging its live online TV business.
Disney’s Hulu + Live TV will be included in the new agreement.
Bloomberg reported that Disney will own 70% and Fubo 30% of the company.
The report also showed that Fubo would drop its anticompetitive lawsuit against Disney, Fox and Warner Bros. regarding Venu Sports.
Fubo is an online-based service that offers live television. It has gained a reputation for its strong focus on news and sports. Hulu+Live TV is a similar service to YouTube TV that offers access to 100 live TV channels covering news, sports and entertainment.
Chip stocks rise
Chip stocks rose on Monday, after Foxconn announced a record-breaking fourth quarter revenue.
On Monday, shares of NVIDIA rose by 4.7% and Broadcom gained 3%. Micron Technology also increased 4.3% from its previous closing.
CNBC reported that NVIDIA would also be poised to close the Monday session with record-highs.
Advanced Micro Devices has also increased by more than 3 %.
The shares of semiconductor firms had an excellent year in 2024. The demand for computing power grew on the strength of artificial intelligence.
VanEck Semiconductor ETF rose more than 4% Monday.
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