S&P 500 Gains and Losses Today: Tesla, Nvidia, Tech Stocks Bounce Back to Start Week

Major U.S. equities indexes gained crushed connected Monday, bouncing backmost from past week’s tech selloff, though nan consequences of past week’s exertion disruptions persisted. 

Investors kept an oculus connected governmental developments, which helped immoderate stocks successful nan tech assemblage move higher. Anticipation of a slew of firm net reports this week besides lifted stocks.

The S&P 500 was 1.1% higher, while nan tech-focused Nasdaq gained 1.6%. The Dow Jones Industrial Average precocious by 0.3% arsenic it bounced backmost toward nan record precocious it group past week. 

Clinical investigation institution IQVIA Holdings (IQV) led nan S&P 500 higher, moving up 9.2% aft its net showed better-than-expected income and revenue. The institution besides raised its full-year net per stock outlook. 

Tech stocks rebounded from past week’s waste off, arsenic investors digested U.S. governmental developments related to President Joe Biden withdrawing from nan statesmanlike race and its consequences for waste and acquisition and business policy. ON Semiconductor (ON), Lam Research (LRCX) and Applied Materials (AMAT) were each higher by much than 6%, while NXP Semiconductors (NXPI) were up 5.4%. 

Nvidia (NVDA) shares were higher by 4.8% arsenic nan chipmaker worked its measurement backmost from a decline of much than 9% past week, helped on by a price target upgrade to $140 by analysts astatine Piper Sandler.

Tesla (TSLA) shares jumped astir 5% up of its earnings study tomorrow aft markets close, erstwhile CEO Elon Musk is expected to update investors connected institution projects, including its robotaxi strategy and different self-driving technology. 

CrowdStrike (CRWD) continued its fall, dropping 13% arsenic customer businesses continued to activity done nan disruptions caused by last week’s tech outage, prompting analysts to constituent retired nan opportunity for immoderate of nan cybersecurity provider’s competitors. Delta Air Lines (DAL) shares dropped 3.5% arsenic nan aerial bearer was forced to cancel 36% of its flights connected Sunday owed to nan tech outage. 

Verizon (VZ) shares fell 6.1% connected investor guidance to a second-quarter net study that showedannual gross maturation of little than 1%, little than expert estimates, moreover aft it added net and mobile telephone subscribers.  AT&T (T) shares were little by 3% up of its study connected Wednesday, while T-Mobile (TMUS) shares declined by 2.3%. 

Starbucks (SBUX) dropped much than 3%, giving backmost immoderate of last week’s gains that came connected reports that activistic investor Elliott Investment Management had taken a liking successful nan world java chain. 

Shares of Air Products and Chemicals (APD) slipped 5.5% aft its chief operating officer Samir Serhan resigned.