Stock market today: Nasdaq, S&P 500, Dow jump as Nvidia leads chip stocks higher
Published On Jan 6, 2025, 10:19 AM
The stock market experienced an upswing with major indices like the S&P 500, Dow Jones, and Nasdaq rising as chip stocks, particularly Nvidia, showed strong performance. Nvidia shares jumped nearly 4% following a record revenue report from partner Foxconn, indicating optimism for AI-related growth. Other chipmakers, like Micron Technology, saw gains of nearly 10%. Investors remain focused on upcoming economic data, including the monthly jobs report, which is expected to be released later this week.
Stock Forecasts
NVDA
Positive
Nvidia's continued growth in a favorable semiconductor market, bolstered by promising forecasts, indicates strong demand in AI technologies. The company's forthcoming keynote address at CES 2025 is anticipated to provide further insights that could drive investor confidence and stock price appreciation.
MU
Positive
Micron Technology's significant stock price increase reflects market confidence in its recovery amid a lifting demand for chips, especially for AI applications. Given the bullish sentiment in the semiconductor sector, Micron may see further upward movement in the near term.
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