US stocks were higher on Monday, with the S&P 500 up 0.3%, the Nasdaq gaining 0.5%, and the Dow Jones rising roughly 60 points, as AI-related partnerships continued to support investor sentiment.
AMD shares soared more than 30% after the company reached a deal for OpenAI to deploy 6 gigawatts of AMD GPUs over multiple years, with AMD also issuing OpenAI a warrant for up to 160 million shares. Utilities, industrials, and tech were the top performing sectors while consumer staples and real estate lagged.
Mega-cap stocks were mixed, with Microsoft (+0.8%), Alphabet (+0.8%), and Tesla (+3.3%) rising while Apple trade little changed and Nvidia (-1.4%), Amazon (-0.8%), Meta (-2%) and Broadcom (-2.8%) posted losses.
Meanwhile, the government shutdown entered its 6th day after Senators failed for the fourth time to pass spending proposals on Friday. Lawmakers are set to return Monday to vote again on a Democratic funding plan and a GOP-led stopgap bill, though neither is expected to succeed.
Source : Trading Economics
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