US Stock Markets Today: S&P 500, Nasdaq Rise As Nvidia, Chip Stocks Advance

The US stock markets saw positive movement today as investors reacted to favorable news from the technology sector. The S&P 500 index increased by more than 0.74%, while the Nasdaq Composite, which is known for its focus on technology stocks, surged upward by 1.77% at the start of trading.

The rise in the markets came as chipmakers and technology shares moved higher right from the opening bell. Notably, Nvidia's stock climbed over 3%, positively impacting the entire chip sector. This uptick followed a report that Foxconn recorded its best fourth-quarter revenue, which spurred enthusiasm among investors.

As trading progressed, seven out of the eleven sectoral indices were in the green. The information technology and communication services sectors were the standout performers, driving much of the market's success, while the utility and real estate sectors faced declines.

Several major companies contributed to the rise on Monday. Stocks like Boeing Co., Microsoft Corp., Apple Inc., Amazon.com Inc., Walt Disney Co., and Goldman Sachs Group Inc. all saw gains in value. On the flip side, some companies experienced losses, including Procter & Gamble Co., Johnson & Johnson, and Coca-Cola Co..

The US stock markets will enter a period of mourning as they are scheduled to be closed on Thursday in honor of former President Jimmy Carter's passing.

In the commodities market, spot gold prices saw a decline of 0.56%, settling at $2,625.54 per ounce. Conversely, crude oil prices edged higher, with Brent crude trading up by 0.52% at $76.91 per barrel.

On the currency front, the Bloomberg Dollar Index fell by 0.9%, while the British Pound rose to $1.2536, appreciating by 0.9%. The Japanese yen also showed strength, increasing 0.5% to 156.52 per dollar. Bitcoin, on the other hand, experienced a slight rise of 0.5%, reaching a value of $99,015.23 as the largest traded cryptocurrency.

Stocks, Markets, Technology