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As we head into the afternoon on Monday, indexes are mixed. Small cap and value stocks are rallying while tech stocks are under more pressure. Let’s take a look at where major indexes stand a little after 1 p.m. ET.
nextstayCCSettingsOffArabicChineseEnglishFrenchGermanHindiPortugueseSpanishFont ColorwhiteFont Opacity100%Font Size100%Font FamilyArialText ShadownoneBackground ColorblackBackground Opacity50%Window ColorblackWindow Opacity0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%200%175%150%125%100%75%50%ArialGeorgiaGaramondCourier NewTahomaTimes New RomanTrebuchet MSVerdanaNoneRaisedDepressedUniformDrop ShadowWhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%- Dow Jones Industrial Average: Up 292.32 (+.66%)
- S&P 500: Down 2.41 (-.04%)
- Nasdaq-100: Down 76.18 (-.40%)
- Russell 2000: Up 40.20 (+1.68%)
Let’s dig a bit more into why the Russell 2000 is up 1.68% while the Nasdaq is sliding today.
Financials Continue to Lead
In the aftermath of Donald Trump’s election, the sector seeing the strongest gains has been financials. Today is no exception, as financials are once again leading market performers:
- Financials: +1.44%
- Consumer Discretionary: +1.01%
- Industrials: +.95%
On the losing end, we have technology stocks in last place today:
- Real Estate: -.43%
- Materials: -.44%
- Information Technology: -1.36%
Trump-Related Assets Continue to Rally
Beyond the rally in financials – which is driven by the belief that a Trump administration will increase M&A and decrease regulation in the space – other assets tied to the Trump administration are rallying today. Tesla (Nasdaq: TSLA) is up another 6.5% today and is now up 38.5% in the past week alone.
Bitcoin also continues to rally as well. MicroStrategy (Nasdaq: MSTR) is up 20% today while Bitcoin prices continue to surgery. The stock is now worth $66 billion, a figure significantly ahead of its total Bitcoin holdings of about $24 billion at today’s prices.
Salesforce Leads the Dow Jones
The Dow Jones is poised to close above 44,000 for the first time today. Salesforce (NYSE: CRM) is the top performer in the index, up 5.2%. However, there are strong gains across industrials – led by Honeywell – and also financial stocks.
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By RBC Capital Markets
The worst performers in the Dow today are mostly technology stocks. NVIDIA (Nasdaq: NVDA) and other technology stocks are under pressure after media reports this weekend that leading AI models may be hitting a “wall” improving their performance through applying more computing and data. It appears a new shift to models that “reason” is where future AI improvements will come from, but investors worrying about a slowdown in AI progress is creating a headwind across stocks in the space today.
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