The S&P 500 closes at a record high
The Nasdaq 100 and Russell 2000 outperformed, rising 0.9% and 1.4%, respectively.
The three major US indexes climbed higher, with the S&P 500 setting a new record high. In a reversal of yesterday’s gains, energy was the worst-performing sector. Investors piled into semiconductors as developments from the CES conference in Las Vegas buoyed enthusiasm for the AI trade.
Stocks that moved higher:
Nebius jumped after announcing that it will be among the first to offer Nvidia’s Vera Rubin NVL72 racks.
Data storage stocks Sandisk, Western Digital, Micron, and Seagate Technology Holdings surged after Nvidia CEO Jensen Huang called the market “completely unserved.”
Alumis skyrocketed after reporting positive late-stage results on a psoriasis drug that rivals a J&J product.
Aeva jumped after announcing that its 4D lidar technology will be used in Nvidia’s autonomous vehicle architecture.
Low-cost airline JetBlue took off, fueled by bullish options activity.
Retail favorite Rocket Lab closed at a new all-time high. Other space plays such as AST SpaceMobile and EchoStar also surged today.
Zeta soared after announcing a collaboration with OpenAI to power its enterprise marketing agent.
Vistra moved higher after announcing a deal to buy Cogentrix Energy, which owns 10 gas-fired power plants, in a $4.7 billion deal.
Accenture rose after reaching a deal to acquire Faculty, a UK-based AI startup and Palantir rival.
Moderna rallied after Bank of America raised its price target on the stock to $24 from $21.
Stocks that moved lower:
Tesla dipped after Nvidia rolled out autonomous tech that could threaten Tesla’s long-standing advantage by allowing rivals to buy the hardware, software, and safety infrastructure Tesla built for itself.
Data center water-cooling stocks Carrier, Trane Technologies, and Johnson Controls sank after Huang said that new AI racks won’t need this equipment.
Equifax and TransUnion dropped after the director of the Federal Housing Finance Agency questioned credit bureau pricing in a post on X.
Gaming platform Roblox fell following reports of widespread outages overnight and a lowered price target from TD Cowen.
