"Markets are set to explode this first trading day of the year. S&P 500 futures are up about 38 points. The SPDR S&P 500 ETF ( SPY) is up about $3.90 a share. The Dow Jones is up 186 points, as the Nasdaq races about 244 points higher. Fueling a good deal of momentum are AI-related stocks. Nvidia ( NASDAQ: NVDA) is up about $2.65 a share, with analysts at TD Cowen reiterating a buy rating on the tech giant."
"Gold prices are seeing higher highs. Last trading just under $4,400, gold could test $5,000 this year. In fact, Bank of America, for example, is targeting $5,000 by 2026. JPMorgan is targeting $5,055. HSBC analysts are targeting $5,000 by early 2026, too. All of which is fueling upside for gold stocks, like Newmont (NEM) and gold ETFs, such as the VanEck Vectors Gold Miners ETF (GDX)."
Markets opened strongly on the first trading day of the year with S&P 500 futures up about 38 points, the SPDR S&P 500 ETF up about $3.90 a share, the Dow up 186 points, and the Nasdaq roughly 244 points higher. Momentum is being driven by AI-related stocks such as Nvidia after a licensing deal with Groq and a TD Cowen buy reiteration. Memory and storage names like Micron and SanDisk rose on AI demand and supply forecasts. Gold climbed toward highs near $4,400 and faces $5,000 targets amid geopolitical tension, economic uncertainty, rate-cut expectations, a weak dollar, and central bank buying. Warren Buffett stepped down from day-to-day leadership at Berkshire Hathaway while remaining chair as Greg Abel succeeds him.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]