(New York) The New York Stock Exchange closed in the green on Monday, led by technology, during a session with weak trading and no major macro news pending U.S. consumer data.
The Dow Jones index gleaned 0.07% to 35,307.63 points, the technology-heavy NASDAQ climbed 1.05% to 13,788.33 points and the S index
The Toronto Stock Exchange lost nearly 100 points at midday on Monday, weighed down by weakness in the energy and base metals sectors.
“NASDAQ took the lead as investors started to buy lower in Apple and Nvidia stocks which had a recent bout of weakness,” noted Edward Moya of Oanda.
Nvidia, the maker of highly sought-after AI development chips, closed Friday down almost 10% since the start of August. But on Monday the stock benefited from positive comments from analysts at JP Morgan and Morgan Stanley and jumped 7.09% to $437.
Apple ended up 0.94%.
Otherwise, “no macroeconomic news” was in the sights of investors, pointed out Peter Cardillo of Spartan Capital.
On Tuesday, investors will be eyeing the driver of the U.S. economy, consumption, with retail sales for July expected to have risen 0.4%, analysts said, more than in June.
There will also be the release of import prices, one of the components of inflation, and the start of a series of results from big names in distribution, ranging from Home Depot (DIY) to Walmart.
On the value side, Amazon, Meta, Alphabet (parent company of Google) all gained more than 1%.
Tesla remained behind (-1.19%) after reducing the price of one of its models in China.
US Steel Corporation shares soared 36.75% to $31 after the steelmaker turned down an unsolicited takeover offer, valuing it at more than $7 billion.
Shares in electric truck maker Nikola fell 6.67% to 1.82 as the maker on Friday recalled all of its battery-powered vehicles that had fire starts.
