S&P 500 Gains and Losses Today: Intel, Super Micro Computer Surge on AI Boost

Major U.S. equities indexes deed caller highs to start a caller trading week that will characteristic Congressional grounds from Federal Reserve Chair Jerome Powell, nan merchandise of nan latest Consumer Price Index (CPI) report, and quarterly reports from banking giants to footwear disconnected earnings season.

The S&P 500 edged 0.1% higher Monday, extending a streak of all-time closing highs making love backmost to early past week. The Nasdaq precocious 0.2%, adding to its ain drawstring of grounds closes. The Dow closed nan convention somewhat lower, down 0.1%.

Shares of Corning (GLW) soared 12%, notching Monday's apical capacity among S&P 500 stocks, aft nan specialty solid shaper boosted its guidance for nan existent quarter. The institution attributed its improved outlook to precocious levels of request for its optical connectivity products, which are utilized successful generative artificial intelligence (AI) applications.

Super Micro Computer (SMCI) shares jumped 6.2% connected Monday arsenic respective stocks related to AI gained. The supplier of servers and information retention hardware has garnered aggravated attraction from investors for its imaginable to capitalize connected AI opportunities, pinch its banal value much than tripling since nan commencement of nan year. Supermicro maintains a starring position successful nan AI server market, pinch its modular creation capabilities offering clients elasticity successful customizing and scaling up their systems.

Intel (INTC) shares were up 6.2% arsenic good aft Melius Research highlighted nan semiconductor giant's imaginable to play catch-up pinch peers successful nan tech sector. The analysts suggested Intel and different "AI Laggards" that underperformed successful nan first portion of nan year—including Advanced Micro Devices (AMD), Apple (AAPL), and International Business Machines (IBM)—could beryllium poised for spot successful nan 2nd half of 2024. Intel and AMD could use from their chips being included successful Microsoft (MSFT) devices, peculiarly its new procreation of AI-enabled PCs. AMD shares were up 4% connected Monday.

Shares of Paramount Global (PARA) mislaid 5.3%, posting nan heaviest losses of immoderate S&P 500 constituent, aft nan intermezo elephantine agreed to a merger deal pinch accumulation institution Skydance Media, bringing an extremity to months of negotiations that drove important fluctuations successful Paramount stock. Skydance laminitis David Ellison is group to go CEO of nan merged company.

Etsy (ETSY) shares fell 5.3% connected Monday. The online crafts marketplace precocious announced that it would restrict nan waste of definite products that it deems to beryllium inappropriate for its customer base. The e-commerce institution besides raised concerns this outpouring erstwhile first-quarter net fell short of expectations and it warned that slower user discretionary spending could resistance down growth.

Chipotle Mexican Grill (CMG) shares slipped 5.2%. Chipotle's stock value has seen volatility since nan institution completed its 50-for-1 banal split precocious past month. The burrito concatenation has besides received disapproval from customers regarding information sizes, pinch a caller study by Wells Fargo analysts suggesting sizing inconsistencies.