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Tech Stocks Go From Red to Green
The Wall Street Journal31d agoneutral
Tech Stocks Go From Red to Green

MARKETS PM NEWSLETTER This is an edition of the Markets P.M. newsletter, a recap of the day’s most important markets moves, delivered after the closing bell. If you’re not subscribed, sign up here. What Happened in Markets Today Tech stocks rallied back after fizzling before the holiday.

Dow Climbs Back to Breakeven but Tech Still Drives the Market
Barrons.com32d agobullish
Dow Climbs Back to Breakeven but Tech Still Drives the Market

The Dow crept back to breakeven, but tech and momentum plays were still driving most of the market’s gains. The blue-chip index was moving in and out of positive territory, while the Nasdaq was up 1%. Only about half the Dow stocks and 43% of the S&P 500 stocks were rising.

Rivian Stock Soars on Target Price Hike. There’s Just One Problem.
Barrons.com32d agobullish
Rivian Stock Soars on Target Price Hike. There’s Just One Problem.

Rivian stock soared again Monday after J.P. Morgan boosted its price target for the EV maker’s shares. The problem: Rivian’s recent hot streak has taken the stock beyond what J.P. Morgan and the rest of Wall Street think it is actually worth. The move came after analyst Rajat Gupta raised his price target to $15 per share from $9 per share, following Rivian’s recent delivery report.

Chip Stock Bounce Back Leads Nasdaq Climb
Barrons.com32d agoneutral
Chip Stock Bounce Back Leads Nasdaq Climb

A reignited chip stock rally is driving the Nasdaq and S&P 500 higher. The Nasdaq is up 1% while the S&P 500 has gained 0.6%. The chip stock rally marks a bounce from last week’s losses with some of the semiconductor names that were under pressure driving today's gains.

Chip Stocks Lead Early Market Gains. Nasdaq Jumps, Dow Falls.
Barrons.com32d agoneutral
Chip Stocks Lead Early Market Gains. Nasdaq Jumps, Dow Falls.

Wall Street returned from the long weekend ready to buy the dip in chip stocks. The Nasdaq was up 0.9%. After opening higher, the Dow was down 190 points, or 0.3%. The S&P 500 was up 0.4%. The iShares Semiconductor ETF, which was battered late in the holiday-shortened week, was rallying back again.