US stocks start the week with broad gains
The S&P 500 rose 0.4% on broad-based gains, while the Nasdaq 100 advanced 0.7% and the Russell 2000 managed to eke out a close in positive territory.
Energy was the top S&P 500 sector ETF, gaining 1.3% as West Texas Intermediate futures prices rose more than 3% on growing geopolitical tensions in the Middle East and Ukraine. Communication services also booked a solid advance, with Netflix up more than 2% and Google gaining more than 1.5%. A 5.6% rise in shares of Tesla linked to reports that the incoming Trump administration would prioritize a federal framework for self-driving vehicles propelled consumer discretionary higher as well. Industrials was the lone sector ETF to fall on the day.
Super Micro Computer spiked on reports that it would take the necessary steps to avoid being delisted by the Nasdaq.
Nvidia slumped ahead of its earnings report on Wednesday as The Information said that the chip designer warned its suppliers of a need to alter server racks for its new GPU because of apparent overheating issues.
Shares of high-flying Palantir Technologies suffered a setback, swooning 6.9% in their worst day since July on no apparent negative news.
