S&P 500 Rises to Start a Holiday-Shortened Week, Led by Tech
The S&P 500 rose on Monday, spurred by a rise in technology shares, to start a shortened holiday week.
The broad market index climbed 0.5%. The Dow Jones Industrial Average advanced 133 points, or 0.3%. The Nasdaq Composite climbed 0.7%.
Key stocks linked to artificial intelligence offered a boost to the broader market. Nvidia shares rose 1% after Reuters said the company is looking to begin shipments of its H200 chips to China by mid-February. Meanwhile, Micron Technology and Oracle climbed almost 2.5% and more than 1%, respectively.
Wall Street is coming off a mixed week for the major averages. A late-week surge in tech stocks helped lift the S&P 500 and Nasdaq Composite to their third winning week in four, up 0.1% and 0.5%, respectively. The 30-stock Dow, which has outperformed this month, fell 0.7%, snapping a three-week winning streak.
Source : CNBC.com