Tech Stocks Soar as Nvidia and Chip Manufacturers Drive Nasdaq and S&P 500 Rise

On Monday, U.S. stocks saw gains, led by a rally in technology shares, as the S&P 500 rose 0.7% and the Nasdaq jumped nearly 1%. The Dow Jones Industrial Average managed to recover from earlier losses, closing up almost 0.2%. Significant contributors to the market’s performance included semiconductor giants Nvidia and Broadcom, with shares climbing more than 3% and 5%, respectively. Meanwhile, investor sentiment remained cautious after the Federal Reserve indicated it would maintain elevated interest rates for longer than previously anticipated. The Fed’s comments followed a week of volatility, although a recent inflation gauge suggested some easing. Concerns about consumer confidence also persisted, with December experiencing the largest month-over-month decline since late 2020. As the market heads into a shortened trading week due to the Christmas holiday, analysts are taking stock of the economic landscape and potential future policy shifts.

Tech Stocks Soar as Nvidia and Chip Manufacturers Drive Nasdaq and S&P 500 Rise

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