US Stock Market Today: S&P 500, Nasdaq Rise As Tech Stocks Zoom; Nvidia, Micron, Oracle Early Gainers
AI hot-bet Nvidia rose 1% shortly after the opening bell, whereas Micron and Oracle scrips were up 1.76% and 2.25%, respectively.
The main US stock market indices rose in early trade, lifted by a jump in key tech stocks in early trade.
The wider index, S&P 500, was up 0.44% or 29.76 points at 6,864 at 9:34 am (EST), whereas the tech heavy Nasdaq Composite jumped 0.54% or 116.42 points to 23,424.05. The Dow Jones Industrial Average rose 0.26% or 123.78 points to 48,258.67.
AI hot-bet Nvidia rose 1.22% to $183.2 apiece, Micron Technology was up nearly 3% at $273.74, and Oracle climbed 1.08% to $194.04 at 9:49 am.
Among the Mag7 stocks, Google-parent Alphabet and Amazon were flat, whereas Microsoft's scrip edged 0.3% lower. Tesla's stock, however, continued to accelerate, rising 3.4%.
Warner Bros. was also among the key gainers, trading 3.3% higher at $28.68 per share at 9:55 am. Before trading commenced, it was reported that Paramount's bid to acquire the company will be personally backed by Oracle's Larry Ellison with a $40-billion pledge.
After the Wall Street opened, the Bloomberg Dollar Spot Index fell by 0.4%, and the 10-year Treasury yield advanced by one basis point to 4.16%.
In the commodities market, US spot gold was trading 1.9% higher at $4,420.65 an ounce, whereas spot silver was up 2.7% at $68.97. Within the crude basket, Brent futures were trading 2.12% higher at $61.75 a barrel, and the US West Texas Intermediate futures were up 2.25% at $57.79.
Bitcoin, the largest-traded cryptocurrency, reclaimed the $90,000-mark on Monday. The token was trading 1.66% higher at 90,102.97 at 10:03 am.
Notably, the Wall Street will be keeping its gaze fixed on a likely year-end Santa rally. The trading week is holiday-shortened, as the markets will remain shut on Thursday on the occasion of Christmas.
