Stocks rise for the third-consecutive session, erasing December losses |
All three major US indexes climbed higher in a broad-based rally, with all sector ETFs rising except for consumer staples. The S&P 500 has officially erased December’s losses. Silver and gold hit record highs. The AI trade got its momentum back, buoyed by positive newsflow in recent days that includes Micron’s earnings and stellar outlook as well as OpenAI’s ever-increasing valuation. Stocks that moved higher: |
- As the AI ecosystem bounced back, AI related stocks like neoclouds IREN, Cipher Mining, Nebius, and CoreWeave; AI-adjacent energy play Bloom Energy; and infrastructure provider GE Vernova moved higher. Chip stocks Micron, Nvidia, TSMC, and Advanced Micro Devices rose as well.
- Hertz surged on bullish options activity.
- Quantum computing stocks D-Wave Quantum, Rigetti Computing, IonQ, and Quantum Computing also surged on bullish options activity.
- POET Technologies also jumped on elevated call volumes.
- Opendoor Technologies ticked higher after CEO Kaz Nejatian said AI fueled an expansion of the company’s home-buying footprint across the lower 48 US states.
- Warner Bros. Discovery rose as Paramount Skydance amended its acquisition offer, which now includes a $40.4 billion personal guarantee from Larry Ellison, the father of Paramount CEO David Ellison. Netflix also got more of its ducks in a row for its WBD offer on Monday, refinancing part of its $59 billion bridge loan with longer-term and lower-cost debt, though the streaming giant’s stock slightly dipped.
- Google struck a deal to acquire data center and energy infrastructure firm Intersect for $4.75 billion in cash.
- Rocket Lab added to Friday’s gain, which came after the company announced a $816 million deal to design and manufacture 18 satellites for the US Space Development Agency on Friday, marking the company’s largest single contract to date.
|
|
|
Wall Street analysts see profit margins continuing the surge that followed from the post-Covid inflation, potentially pushing profitability to record highs in 2026. Read more. |
|
|
It’s tough out there for the top paid streamer. Read more. |
|
|
In the absence of official statistics, Bloomberg attempted to tally the number of US deaths linked to crashes in which Tesla’s door functionality may have impeded escape or rescue. The analysis identified “at least 15 deaths in a dozen incidents over the past decade in which occupants or rescuers were unable to open the doors of a Tesla that had crashed and caught fire.” Read more. |
|
|
Was this email forwarded to you? Don’t miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox. Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts! |
|
|
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
|
|
SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025 |
|
|
|
