Monday morning saw the Dow Jones modestly rising, while the Nasdaq experienced a slight decline. Nvidia (NVDA) continued its slide on the stock market, coinciding with Bitcoin tumbling and affecting crypto stocks like Coinbase (COIN).
Stocks such as Meta Platforms (META), Amazon.com (AMZN), Spotify Technology (SPOT), and Nu Holdings (NU) are currently around buy points, presenting potential opportunities for investors.
The market showed the Dow Jones rising 0.4% vs. fair value, while the S&P 500 remained relatively unchanged. The Nasdaq, on the other hand, sank by 0.4%. The 10-year Treasury yield remained steady following a four basis points increase last week to 4.26%, while crude oil prices saw a slight decrease after a significant jump the week prior.
Alnylam Pharmaceuticals (ALNY) saw a notable increase of 29%, reaching a 52-week high due to positive late-stage trial results for a serious heart condition known as ATTR amyloidosis.
Apple (AAPL) stayed relatively stable following reports of talks with Meta about integrating generative artificial intelligence models. Additionally, upcoming events on the market include Micron Technology (MU) reporting earnings on Wednesday and updates on the core Personal Consumption Expenditures price index later in the week.
Last week, the Dow Jones Industrial Average saw a 1.5% increase, the S&P 500 rose by 0.6%, and the Nasdaq composite saw minimal growth. Stock movements included Meta Platforms, Amazon, Nu Holdings, and Spotify, with some showing potential buy points.
Nvidia stock continued to slide, while Bitcoin saw a decrease in price. Coinbase, MicroStrategy, CleanSpark, and Robinhood Markets all experienced fluctuations based on market trends and developments.
Overall, keeping an eye on leading stocks and sectors can help investors stay informed and make strategic decisions in the ever-changing market landscape.
