US stocks opened higher on Monday, led by a surge in chip companies benefiting from investment in generative artificial intelligence. The Dow Jones Industrial Average rose 0.4 percent to 42,879.88, while the S&P 500 increased 0.9 percent to 5,993.49. Chip designer Nvidia and Micron Technology saw significant gains, with shares rising by 3.3 percent and 9.4 percent respectively. The Nasdaq Composite jumped 1.3 percent to 19,882.28. Additionally, Fubo's stock soared 150 percent after Disney announced a merger with Hulu+ Live TV, while Disney's share price rose 0.3 percent. This week will be marked by the release of fresh jobs data and minutes from the US Federal Reserve's interest rate decision, as well as earnings reports from companies such as Delta Airlines and Walgreens Group Alliance.
https://www.brecorder.com/news/40341321/us-stocks-edge-higher-on-rebound-in-chip-stocksThe Federal Reserve's nearly 100-basis point cut in interest rates and a surge in technology stocks driven by anticipation of corporate profits from artificial intelligence have propelled equities to record highs in 2024. The tech, communications services, and consumer discretionary sectors have seen significant gains, with Nvidia's stock rising over 170% this year, contributing to its market value reaching $3 trillion. This growth has also helped Tesla regain a market value of $1 trillion.
https://nypost.com/2024/12/31/business/dow-stocks-climb-on-final-trading-day-of-2024/