Summary
On Monday, some stocks on Wall Street rose thanks to companies like Nvidia and Amazon, which are involved in artificial intelligence (AI). While these tech stocks gained, most other stocks in the S&P 500 index fell. The overall stock market shows mixed results with concerns about the high cost of AI stocks and worries about tariffs impacting U.S. manufacturing.
Key Facts
- Nvidia and Amazon were key drivers of the S&P 500 increase, despite the broader market's decline.
- The S&P 500 rose by 0.2%, while the Dow Jones dropped by 0.5% and the Nasdaq increased by 0.5%.
- Nvidia's stock increased by 2.2%, reaching a 54.1% gain for the year.
- Amazon announced a $38 billion deal with OpenAI to use its cloud services, leading to a 4% rise in its stock.
- Palantir saw a 3.3% increase as investors awaited its quarterly report.
- Kimberly-Clark's stock fell 14.6% after it announced a deal to buy Kenvue for $48.7 billion.
- A report showed U.S. manufacturing activity fell more than expected, with some citing financial strain from tariffs imposed by President Trump.
- In international markets, South Korea's Kospi index hit a record high with SK Hynix gaining nearly 11% due to partnerships with Nvidia.
