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Nvidia shares climbed after the chipmaker announced a $100 billion investment in ChatGPT maker OpenAI.
Major U.S. equities indexes climbed Monday afternoon, boosted by gains in the tech sector as Nvidia announced a big investment in ChatGPT maker OpenAI.
Apple shares rose after Wedbush raised its price target for the stock, pointing to better-than-expected demand for the iPhone 17.
Kenvue shares slumped following reports the Trump administration will tie the drugmaker’s Tylenol painkiller to autism.
Major U.S. equities indexes climbed Monday afternoon, boosted by the tech sector as Nvidia (NVDA) announced a $100 billion investment in ChatGPT maker OpenAI to build out AI data centers.
Nvidia led gains on the Dow, and was among the day’s best-performing stocks on the Nasdaq and S&P 500. Shares of several Nvidia partners such as Super Micro Computer (SMCI) and Micron Technology (MU) also rose.
Teradyne (TER) shares jumped as Susquehanna raised the price target of the semiconductor equipment maker to $200 from $133, pointing to growth in demand expected next year and beyond. Shares of other companies that make equipment used to manufacture chips, including Applied Materials (AMAT), ASML (ASML), and Lam Research (LRCX), climbed as well.
Apple (AAPL) shares surged as Wedbush lifted its price target for the tech giant’s stock to a new Street high of $310 from $270 on signs of better-than-expected demand for the iPhone 17.
Metsera (MTSR) shares soared after Pfizer (PFE) said it would buy the biopharma firm for up to $7.3 billion as it looks to profit from soaring demand for weight-loss medicines. Pfizer shares rose as well.
Shares of real estate brokerage Anywhere Real Estate (HOUS), which owns Century 21, Coldwell Banker, and others, took off after rival Compass (COMP) announced it was acquiring Anywhere. Compass shares slid.
Tylenol maker Kenvue (KVUE) saw its shares slump following reports the White House is expected to make an announcement linking pregnant women’s use of the painkiller to autism.
Coinbase Global (COIN) shares lost ground as prices for most major cryptocurrencies fell.
Gold futures climbed to record highs. The yield on the 10-year Treasury note was little changed. The U.S. dollar lost ground to the euro, pound, and yen.
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