Markets News:Tech Stocks Surge, Nvidia Jumps 9% Amid Earnings Focus and Fed Meeting
Stocks ended Tuesday on a strong note, driven by a recovery in the technology sector. The Nasdaq Composite climbed 2%, while the S&P 500 gained 0.9%, and the Dow Jones Industrial Average rose 0.3%. This rebound followed Monday's sharp tech-sector selloff sparked by fears over Chinese startup DeepSeek's cost-efficient AI models.Nvidia (NVDA), which lost nearly $600 billion in value during Monday's rout, bounced back with an 8.9% gain. Rival Broadcom (AVGO) also rose 2.6%. Oracle (ORCL) rebounded 3.6% after Monday's 14% plunge, buoyed by optimism surrounding its $500 billion AI partnership with OpenAI and SoftBank.
Big tech stocks joined the rally, with Apple (AAPL) and Microsoft (MSFT) advancing 3.7% and 2.9%, respectively. Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META), and Tesla (TSLA) also posted gains.
Investors are now eyeing key earnings reports from Microsoft, Meta, and Tesla, due Wednesday, followed by Apple on Thursday. Meanwhile, Boeing (BA) rose 1.5% after confirming its fourth-quarter loss in line with preliminary results, while General Motors (GM) and Lockheed Martin (LMT) dropped roughly 9% after reporting quarterly results that disappointed investors.
As earnings season continues, attention also shifts to the Federal Reserve, which began a two-day policy meeting on Tuesday. While no change in interest rates is expected, market participants eagerly await insights on the Fed's economic outlook and future rate decisions.
In other markets, Bitcoin traded at $101,000, slightly down from its morning peak of $103,700. Gold futures climbed 1.2% to $2,770 per ounce, while WTI crude oil futures rose about 1%.
Among S&P 500 stocks, Royal Caribbean (RCL) led the pack with a 12% surge, buoyed by better-than-expected profits and a positive outlook for 2025. Meanwhile, CrowdStrike (CRWD) soared 9.3% after news of a cyberattack on DeepSeek highlighted rising cybersecurity demands.
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