S&P 500, Nasdaq Post Back-to-Back Gains on Monday as Nvidia Shares Rise
The S&P 500 climbed alongside the Nasdaq Composite on Monday for back-to-back wins, as Wall Street rebounded from a losing week and chipmakers surged.
The broad market index advanced 0.55% to end at 5,975.38, and the Nasdaq Composite added 1.24% to 19,864.98. The Dow Jones Industrial Average lagged, losing 25.57 points, or 0.06%, and closing at 42,706.56. Earlier in the session, the 30-stock average rose as much as 383 points.
Chip stocks were among the big winners of the session after Foxconn announced record fourth-quarter revenue. Nvidia jumped 3.4%, closing at a record after the stock posted three straight days of gains. Broadcom gained about 1.7%, while Micron Technology advanced 10.5%. The VanEck Semiconductor ETF (SMH) jumped more than 3%.
Source : CNBC