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

The US stock markets experienced a positive surge on January 6, 2025, with the S&P 500 index rising over 0.74% and the technology-focused Nasdaq Composite increasing by 1.77% at the start of the trading day. The Dow Jones Industrial Average also saw a nominal gain, climbing 0.33%. This upward momentum comes as the markets are gearing up for a shortened trading week, as they will be closed on Thursday to honor the late former President Jimmy Carter.

Market Highlights

The increase in the benchmark indices was significantly influenced by developments in the technology and chipmaking sectors. Following a report from the Washington Post indicating that aides of President-elect Donald Trump are deliberating on reducing their import tariff proposals, investor sentiment turned optimistic.

In the early trading hours, seven of the eleven sectoral indices were in the green. The information technology sector led the charge, along with communication services, while utility and real estate sectors showed signs of weakness.

The Role of Tech Stocks

A notable contributor to this market rally was Nvidia, which saw its shares climb more than 3% as chip stocks gained traction. This surge coincided with Foxconn's announcement of record revenue for the fourth quarter, further boosting investor confidence in the tech sector.

Other major companies that boosted the market included Boeing, Microsoft, Apple, Amazon, Walt Disney, and Goldman Sachs. However, not all stocks performed well; notable laggards included Procter & Gamble, Johnson & Johnson, and Coca-Cola.

Other Market Indicators

As the US markets opened, spot gold fell by 0.56%, costing $2,625.54 per ounce. Crude oil prices saw a slight rise, with Brent crude trading 0.52% higher at $76.91 per barrel. Additionally, the Bloomberg Dollar Index dropped by 0.9% as the British Pound rose by 0.9% to $1.2536, alongside a 0.5% increase in the Japanese yen to 156.52 per dollar.

In cryptocurrency, Bitcoin, the largest traded cryptocurrency, saw a modest rise of 0.5%, bringing its price to $99,015.23.

Overall, the positive movement in the US stock markets reflects an optimistic outlook for the tech sector and a broader bullish sentiment among investors.

market, stocks, Nvidia