US Stocks Rally as Tech Giants Lead Market Surge
US stocks experienced a significant rise on Monday, with major technology companies driving the market upward. The surge coincided with the start of the 2025 Consumer Electronics Show (CES), where Nvidia CEO Jensen Huang is set to deliver a highly anticipated keynote address.
The Nasdaq 100 Index climbed over 1%, while the S&P 500 gained more than 0.5%. The Dow Jones Industrial Average, however, closed slightly lower. Nvidia shares jumped up to 5%, approaching a record high, as investors eagerly await Huang’s speech, which is expected to cover updates on the company’s data center business and its foray into robotics.
Bank of America analyst Vivek Arya predicts that Nvidia will highlight its robotics strategy and the development of “physical AI” during the CES presentation.
The chip sector also rallied, buoyed by Foxconn’s strong earnings report showing a 15% year-over-year revenue growth. Shares of chip companies such as Micron, ASML, and Taiwan Semiconductor saw significant gains of 8%, 6%, and 11%, respectively.
At market close, the S&P 500 stood at 5,975.38, up 0.55%, while the Nasdaq Composite reached 19,864.98, up 1.24%. The Dow Jones Industrial Average settled at 42,706.56, down 0.06% or 25.57 points.
The US dollar experienced volatility following a Washington Post report on potential changes to the Trump administration’s tariff plans. The report suggested a softer approach to tariffs, which could impact inflation and Federal Reserve interest rate policies. However, Trump later refuted the report, asserting that his tariff policy remains unchanged.
In commodities, West Texas Intermediate crude oil fell 0.73% to $73.42 per barrel, while Brent crude decreased by 0.42% to $76.19 per barrel. Gold prices dropped 0.36% to $2,645.10 an ounce. The 10-year Treasury yield increased by 2 basis points to 4.625%.
Cryptocurrency markets also saw movement, with Bitcoin surging 3.84% to $102,123.
As the market continues to evolve, investors are closely watching tech sector developments and their potential impact on the broader economy.
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