Blog

Dow, S&P 500, Nasdaq turn higher as gold powers to fresh high

Posted on by Harsh Sharma


US stocks turned higher on Monday as Wall Street looked ahead to a parade of Federal Reserve speakers and a key inflation print for clues to the chances of further US interest rate cuts.

The Dow Jones Industrial Average (^DJI) was roughly flat, while the S&P 500 (^GSPC) rose about 0.2% after the indexes opened in the red. The tech-heavy Nasdaq Composite (^IXIC) added 0.3% on the heels of a strong week for stocks as investors welcomed the Fed’s return to easing.

Gold (GC=F) rose to a fresh all-time high on Monday, topping $3,750 amid bets the Fed will lower rates twice more before the end of 2025. But bitcoin (BTC-USD) and other crypto tokens sank as traders liquidated over $1.5 billion in bullish wagers.

Markets are waiting for Friday’s fresh reading on the Fed’s preferred inflation gauge, the Personal Consumption Expenditures price index, to test those wagers. A weak print is likely to lift the odds of another quarter-point cut in October. Wall Street expects PCE in September to show price pressures are persisting but remain tame enough to keep the Fed on track.

Meanwhile, investors will listen out for any other hints from a packed schedule of Fed speakers in the coming days, including Chair Jerome Powell and President Trump-backed Stephen Miran. The newly installed Fed governor has promised to give details on his policy views at his appearance on Monday in New York, while Powell is slated to speak on Tuesday.

Markets were watching for any fallout from Trump’s latest immigration crackdown. On Friday, his administration said US companies will face a $100,000 fee for H1-B work visas, prompting the likes of Microsoft (MSFT) and Goldman Sachs (GS) to send urgent emails warning employees. Shares of megacap techs were mixed in early trading.

In earnings reports due later, eyes will be on Micron Technology (MU) for updates on AI-driven demand and on Costco (COST) results for a window into consumer spending.

LIVE 16 updates

  • Laura Bratton

    New rout in bitcoin ripples through crypto world

    Yahoo Finance’s David Hollerith reports:

    Read the full story here.

  • Laura Bratton

    Apple jumps to highest since level December as Wedbush boosts price target to $310

    Apple (AAPL) shares touched just over $251 on Monday, their highest level since December 2024, as Wedbush analyst Dan Ives raised his price target on the stock to $310 from $270.

    The new price target is the highest of Wall Street analysts who cover the stock and implies a nearly 24% gain from Apple’s current level.

    “Heading into this iPhone 17 cycle we were expecting this upgrade cycle to be a good, but not great one,” Ives wrote. “Instead the combination of a pent-up consumer upgrade cycle with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last 4 years, coupled with some design changes/enhancements have been the magical formula out of the gates.”

    Apple shares jumped last week as its iPhone 17 lineup hit store shelves.

  • Laura Bratton

    Stocks retreat from records at the open

    US stocks pulled back at the open on Monday after rallying to fresh all-time highs at the end of last week.

    The Dow Jones Industrial Average (^DJI) sank roughly 0.4%, while the S&P 500 (^GSPC) dipped 0.2%. The Nasdaq Composite (^IXIC) was about 0.1% lower, as megacap tech stocks were mixed amid Trump’s new $100,000 fees for H1-B work visas and Oracle’s (ORCL) CEO shakeup.

    Investors are looking ahead to a slew of Federal Reserve speakers this week, including Fed Chair Jerome Powell and Stephen Miran. Wall Street is also watching for the personal consumption expenditures price index reading on Friday, a key inflation print, for clues to the chances of further US interest-rate cuts.

  • Laura Bratton

    Oracle stock dips as software giant replaces CEO

    Oracle shares dipped more than 1% before the market open after the software giant said it appointed two new co-CEOs to replace Safra Catz.

    The two new chief executives are Clay Magouyrk, who was the president of the company’s AI cloud business, Oracle Cloud Infrastructure (OCI), and Mike Sicilia, who was the president of Oracle Industries. The two were named presidents of those Oracle segments in June, which Business Insider reported at the time to be part of a broader succession plan, citing a person familiar with the matter.

    Oracle’s former CEO, Safra Catz, served in her role since 2014. The Israeli-American billionaire and former investment banker has been appointed executive vice chair of the company’s board of directors.

    “In her role as Vice Chair, Safra and I will be able to continue our 26-year partnership — helping to guide Oracle’s direction, growth and success,” Oracle chair Larry Ellison said in a statement.

    Oracle’s stock decline reverses gains earlier in the morning after news that the tech firm will recreate and provide security for a new TikTok algorithm to allow the social media app to continue operating in the US, avoiding an impending ban. Analysts have told Yahoo Finance that Oracle’s involvement in such a deal is seen as a positive for the software company because it allows it to continue its partnership with TikTok, storing the app’s American user data. That deal accounted for 5% of the revenue seen by OCI in its 2025 fiscal year, MorningStar analyst Luke Yang estimated.

  • Weight-loss drug developer Metsera to be acquired by Pfizer, stock soars 60%

    Metsera stock (MTSR) surged over 60% in premarket trading on Monday on news that Pfizer (PFE) would acquire the weight-loss drug developer in a $7.3 billion deal.

    Pfizer stock rose 1% as the company looks to shore up its position in the obesity treatment market after its own weight-loss pill, danuglipron, faced setbacks in its clinical trials, which led the company to abandon that drug’s development.

    Metsera has several GLP-1 therapeutic candidates in the pipeline. Under the terms of the agreement, Pfizer will acquire all outstanding shares of Metsera common stock for $47.50 per share, valuing the company at around $4.9 billion. Additionally, Metsera is eligible to receive additional payments of up to $22.50 per share in cash tied to three specific clinical and regulatory milestones.

    “The proposed acquisition of Metsera aligns with our focus on directing our investments to the most impactful opportunities and propels Pfizer into this key therapeutic area,” Pfizer CEO Albert Bourla said in a statement.

    Read more here.

  • T-Mobile names telecom veteran Srini Gopalan as CEO

    T-Mobile (TMUS) stock fell around 1% in premarket trading on Monday after the company announced that its CEO, Mike Sievert, would step down on Nov. 1.

    Chief operating officer, Srinivasan Gopalan, will take over as chief executive, the company said. He has held senior leadership positions at Bharti Airtel, Capital One, Vodafone, and Deutsche Telekom’s Germany business. Sievert, who became CEO in 2020, will shift to become vice chairman and advise on long-term strategy.

    Sievert and Gopalan will discuss the leadership change on Yahoo Finance at 9:30 a.m. ET. You can watch that interview live here.

  • Oracle to secure TikTok’s algorithm in Trump-backed deal

    As the US and China near a deal to keep TikTok running in the US, a White House official said that Oracle (ORCL) would operate the algorithm and secure the data of US users on the Chinese short-form video app.

    According to Bloomberg, a preliminary divestiture deal would allow American buyers to lease a copy of TikTok’s algorithm from its parent company, ByteDance, and retrain it for US users.

    Oracle would store the data from US users of the app in a secure cloud with controls aimed at keeping out foreign adversaries, including China, a White House official said. ByteDance would not have access to data on TikTok’s US users nor to its algorithm in the US.

    Shares of Oracle rose 0.8% in premarket trading on Monday. Year to date, the stock is up 85%.

    Read more here.

  • Fed’s Powell, Miran set to speak with stocks at record highs: What to watch this week

    Wall Street is bracing for a busy week of comments from Fed officials and updates on economic data after the first US rate cut of 2025 boosted stocks to record highs, notes Yahoo Finance’s Jake Conley.

    Here’s what’s in focus for coming days:

    Read more here.

  • Jenny McCall

    Good morning. Here’s what’s happening today.

  • ‘This isn’t your grandfather’s S&P 500’: Wall Street says stocks could keep rallying

    Stocks hit fresh record highs as the Fed delivered its expected rate cut, fueling what some on Wall Street see as a short-term “honeymoon rally.” Other strategists believe there’s more room for gains.

    Yahoo Finance’s Allie Canal reports:

    Read more here.

  • Jenny McCall

    Premarket trending tickers: Snap, Intel and Coinbase

    Here’s a look at some of the top stocks trending in premarket trading:

    Snap (SNAP) stock rose 7% in premarket trading on Monday. Last week analysts from JMP Securities maintained its Market Perform rating on the company, citing strong advertiser sentiment.

    Intel (INTC) stock fell 1% before the bell on Monday. Semiconductor company Nvidia (NVDA) announced a joint chip partnership and $5 billion stake in Intel (INTC) last week.

    Coinbase (COIN) shares fell 3% in premarket trading following a pullback in cryptocurrencies, which saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp selloff.

  • Big Tech stocks hold steady after Trump’s visa fees crackdown

    Shares in the “Magnificent 7” megacaps were little changed in Monday’s premarket as investors appear to shrug off President Trump’s big hike in fees for visas used heavily in the US tech industry.

    The Trump administration said Friday that companies have to pay $100,000 per year for H-1B working visas, part of its crackdown in immigration.

    That plan prompted some Big Techs and Wall Street banks to warn their employees not to leave the US or to return to the country quickly. But Apple (AAPL), Nvidia (NVDA), Microsoft, Alphabet, Amazon, Meta Platforms (META) and Tesla (TSLA), traded steady in premarket, in a range of less than 1% higher or lower.

    Read more here.

  • BYD stock falls after report Buffett sold his entire stake

    BYD’s (BYDDY, 1211.HK) shares sank in Hong Kong in the wake of a report that Warren Buffett’s investment firm had dumped its stake in the Chinese EV maker.

    Bloomberg reports:

    Read more here.

  • Samsung Electronics Co stock price jumps on freshly inked deal with Nvidia

    Samsung Electronics Co. (005930.KS) saw its stock value pop by over 5% following the announcement that Nvidia Corp. (NVDA) has given the go-ahead for the use of advanced memory chips, a first for the Korean tech behemoth.

    Bloomberg reports:

    Read more here.

  • Asian stocks waver with H1-B visa insecurity dealing blow sentiment across the region

    Reuters reports:

    Read more here.

  • Gold maintains gains for fifth week as Fed cut pushes haven higher

    Bloomberg reports:

    Read more here.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *