The key facts

  • S&P 500 +0.41% to 7,690.73; Nasdaq +1.11% to 26,430.89; Dow Jones −0.07% to 51,966.03; VIX fell 7.95% to 18.4
  • Shares of Micron, AMD, Nvidia and Intel rose after last week's sell-off in AI-related stocks
  • European indices declined: Stoxx Europe 600 −0.8%, DAX −1.18%, FTSE 100 −1.08%

Mixed results on Wall Street

The New York stock market ended Monday with mixed performance as investors focused on the financial results of major technology companies. The Dow Jones index lost 36.38 points (0.07%) and closed at 51,966.03. The S&P 500 added 0.41% (31.29 points) to 7,690.73, while the Nasdaq Composite rose 1.11% (290.85 points) to 26,430.89. The VIX volatility index, known as the market's 'fear index,' fell 7.95% to 18.4.

Recovery of the technology sector

After a sharp sell-off in stocks related to artificial intelligence last week, the technology sector showed signs of recovery, contributing to the mixed performance of the markets. According to Anadolu, pressure on technology stocks last week came from concerns that high interest rates could limit investment in AI infrastructure. On the first trading day of the week, shares of chipmakers Micron Technology, AMD and Nvidia rose 2.97%, 1.76% and 1.38%, respectively. Intel shares climbed 2.4% after JPMorgan analysts upgraded their recommendation on the company's stock.

Focus on earnings reports

Analysts note that investors are focused on corporate reports to be published in the US this week, with particular attention to how major technology companies' investments in AI affect their financial results. Close attention is expected to SpaceX's results on Tuesday, as well as Meta, Tesla and IBM on Wednesday. Reports during the week will also be presented by Netflix, General Motors, RTX, United Airlines, Procter & Gamble and Lockheed Martin. Investors are also monitoring oil price dynamics and bond yields.

Decline in European indices

European stock markets ended the day lower: the pan-European Stoxx Europe 600 index lost 0.8% and closed at 639.56 points. Britain's FTSE 100 fell 1.08% to 10,764.69, Germany's DAX 40 declined 1.18% to 25,319.77, and France's CAC 40 dropped 1.11% to 7,868.05. Italy's FTSE MIB 30 lost 1.55%, closing at 49,086.27, while Spain's IBEX 35 fell 1.49% to 19,039.30. Notably, the headline of the Anadolu article referred to European stocks rising, which contradicts the data in the same article showing the indices declining.