On Monday, stocks experienced a surge, with market participants closely eyeing the upcoming policy decision from the Federal Reserve, which could heavily influence the direction of equities in the days ahead.
Here’s a summary of some notable stock movements from Monday:
- Tesla saw a remarkable 6.3% jump after announcing its decision to raise the price of all its Model Y vehicle trims in the U.S. by $1,000 at month-end.
- Alphabet soared by 4.6% following a report suggesting discussions between Google and Apple regarding a potential deal to integrate the Gemini artificial intelligence engine into the iPhone. Meanwhile, Apple itself experienced a more modest increase of 0.6%.
- Nvidia witnessed a 0.7% rise as its annual GTC conference commenced, with CEO Jensen Huang expected to unveil new artificial intelligence offerings.
- Super Micro Computer and Deckers Outdoor joined the S&P 500 index, with Super Micro seeing a 6.4% decline while Deckers fell by 0.1%.
- Nuvei surged by an impressive 32% after reports indicated talks with private-equity firm Advent International about a potential buyout.
- HashiCorp climbed by 8.1% following reports of the software infrastructure company considering options, including a sale.
- XPeng rose by 1.8% after revealing plans to introduce a cheaper brand of electric vehicles, priced between 100,000 yuan to 150,000 yuan.
- Logitech International experienced a 6.9% decline after the resignation of Chief Financial Officer Charles Boynton was announced, alongside the company confirming its fiscal year outlook.
- PepsiCo saw a 4% increase after being upgraded to Overweight from Equal Weight at Morgan Stanley, with a price target of $190.
- Science Applications International dropped by 10% post-reporting fiscal fourth-quarter adjusted earnings that missed analysts’ estimates and a revenue decline.
Additionally, investors are anticipating earnings reports this week from a range of companies, including Micron Technology, Nike, FedEx, Tencent Music Entertainment, XPeng, PDD Holdings, General Mills, BioNTech, Chewy, KB Home, Ollie’s Bargain Outlet, Signet Jewelers, Accenture, Lululemon Athletica, Darden Restaurants, and Winnebago Industries. These reports are likely to influence market sentiment and stock movements in the coming days.