In the latest trading session, US benchmark equity indexes displayed a predominantly positive trend ahead of Monday's market close, bolstered by a remarkable surge in select chipmaker and technology stocks. The Nasdaq Composite, heavily influenced by tech stocks, witnessed an increase of 1.2%, reaching a value of 19,848.1.
Concurrently, the S&P 500 climbed 0.5% to settle at 5,971.8. In contrast, the Dow Jones Industrial Average experienced a slight decline of 0.1%, concluding at 42,683.7. Different sectors exhibited varied performances, with technology and communication services leading the way as notable gainers, while real estate and utilities faced the most significant losses. On Sunday, Taiwanese electronics giant Hon Hai Precision, widely recognized as Foxconn, disclosed an impressive 42% year-on-year increase in revenue for the month of December, highlighting the company's robust performance amid a thriving market. Prominent stocks making waves included Micron Technology, Super Micro Computer, MicroStrategy, ASML, Arm, and Nvidia, all of which emerged as leading gainers during Monday's trading session, reflecting the overall positive sentiment towards technology stocks. In the bond market, the US 10-year Treasury yield saw a slight uptick, rising by 3.1 basis points to reach 4.63%, while the two-year yield remained relatively stable at 4.28%.
This movement indicates market dynamics that investors are closely monitoring alongside stock performances. Additionally, West Texas Intermediate crude oil prices saw a decrease of 0.7%, landing at $73.45 per barrel, reflecting ongoing fluctuations within the energy sector. Investors remain focused on various stocks, including $MU (Micron Technology), $SMCI (Super Micro Computer), $MSTR (MicroStrategy), $ASML (ASML Holding), $ARM (Arm Holdings), and $NVDA (Nvidia), as well as monitoring broader market indices like $US30 (Dow Jones) and $US500 (S&P 500)..