Stock market today: Nasdaq, S&P 500 jump as Nvidia leads chip stocks higher

Published On Dec 23, 2024, 3:28 PM

Stocks increased slightly on Monday, fueled by a tech rally amid speculation on the Federal Reserve's interest rate strategy for next year. The S&P 500 rose by 0.4%, and the tech-heavy Nasdaq saw a 0.9% uptick. Notable gains were made by semiconductor companies, with Nvidia and Broadcom climbing over 3% and 5%, respectively. Investor sentiment was mixed due to a significant drop in consumer confidence for December, as Americans expressed growing uncertainty regarding the economic outlook. Despite this, the overall market sentiment is cautiously optimistic, especially within tech companies. Walmart, on the other hand, struggled due to legal issues, negatively affecting the Dow Jones Industrial Average.