On Monday, the Dow Jones Industrial Average and other major indexes saw gains as the blue-chip index looked to extend an eight-day win streak. However, Nvidia stock moved lower despite receiving a buy rating from Jefferies and a price-target hike.
The morning session saw the Dow Jones Industrial Average rising by 0.3%, with the S&P 500 and Nasdaq composite also showing gains. Meanwhile, the 10-year Treasury yield dropped to 4.47%, while oil prices increased.
In ETF trading, the Nasdaq 100 tracker and S&P 500 ETF also showed slight gains. Nvidia stock, on the other hand, reversed lower on Monday morning despite Jefferies’ positive coverage and raised price target. The company’s stock continues to build a base with a potential buy point at 974.
Looking ahead, the economic focus will be on the CPI inflation report and retail sales data expected later in the week. Earnings reports from companies like Home Depot and Walmart will also be key to watch.
Overall, the stock market continues to show signs of strength, with various stocks like NetApp, NXP Semiconductor, and Tradeweb Markets showing potential for growth. It’s important to stay informed and adjust to changing market conditions to make the most of investment opportunities.