Wall Street is in full risk-on mode, as traders eagerly snap up technology stocks, particularly semiconductors, ahead of Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang‘s speech later on Monday at the Consumer Electronics Show in Las Vegas.
Tech-linked indices and sector outperformed by midday trading in New York. The Nasdaq 100 notched a 1.3% increase while the iShares Semiconductor ETF (NASDAQ:SOXX) soared by over 4%, eyeing the strongest session since mid-September.
Micron Technology Inc. (NASDAQ:MU) shares led gains, flagging a 12% surge, on the back of expectations for strong AI demand. Nvidia rose 4.8%.
Among Monday’s notable headlines, The Washington Post reported Donald Trump’s economic team is exploring a more targeted version of its universal tariff plan, aiming to apply tariffs to specific sectors rather than implementing a broad measure on all imports. The dollar softened by 0.5% in reaction to the news.
The Federal Reserve announced the vice chair for supervision Michael Barr, a strong advocate for tighter banking regulations, will step down from his role in February but will retain his seat on the Board of Governors.
“The risk of a dispute over the position could be a distraction from our mission,” Barr stated, alluding to potential clashes with the incoming administration’s inclination toward looser banking regulations. Regional bank stocks reacted positively, with the S&P SPDR Regional Banking ETF (NYSE:KRE) rising 1.6% on Monday.
In commodities markets, natural gas prices rocketed by another 7% on the heels of an extension of cold temperatures, while oil prices slipped 0.7%, potentially snapping a 5-day winning streak.
Sentiment turned bullish again in cryptocurrency markets, as Bitcoin (CRYPTO: BTC) ferociously reclaimed the $100,000 mark, sending crypto-linked stocks such as Coinbase Global Inc. (NASDAQ:COIN), CleanSpark Inc. (NASDAQ:CLSK) and Microstrategy Inc. (NASDAQ:MSTR) all higher by about 6%.
Monday’s Performance In Major U.S. Indices, ETFs
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Monday’s Stock Movers
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