Foxconn earnings report shows strong growth

Kaityn Mills
2 Min Read
Earnings Growth

The stock market rallied on Monday, with the Nasdaq and S&P 500 leading the way as chip stocks surged.

Investors were optimistic about the potential for selective tariffs from President-elect Donald Trump’s administration, rather than the broad measures he had previously threatened. Nvidia was a standout performer, with shares climbing nearly 5% to trade around $151.

The company’s CEO, Jensen Huang, is set to deliver a keynote speech at the annual CES in Las Vegas, and investors are anticipating updates on Nvidia’s AI chips and the broader AI market. Other chip stocks also saw gains, with Taiwan Semiconductor rising solidly and the Philadelphia SE Semiconductor index reaching a two-month high. The positive sentiment extended to carmakers, which benefited from reports that Trump’s aides are seeking more targeted tariffs.

In other news, Federal Reserve Governor Michael Barr announced his early resignation, prompting a rise in bank stocks. Citigroup stock also gained following a brokerage upgrade.

Foxconn earnings report analysis

The Dow Jones Industrial Average rose by 0.16%, while the S&P 500 increased by 0.70% and the Nasdaq Composite climbed by 1.24%. The benchmark 10-year Treasury yield was up around two basis points to hover around 4.62%. Investors are also keeping an eye on the release of the December nonfarm-payrolls report on Friday, which could provide further insight into the state of the economy.

The stock market will be closed on Thursday to mourn the death of former President Jimmy Carter. In the cryptocurrency market, bitcoin prices traded above $101,000 per token, marking the first time it has topped $100,000 since Dec. 19.

This resilience in the face of broader market challenges has caught the attention of many investors. As the week progresses, market participants will be closely watching developments in Washington, D.C., as well as corporate earnings reports and economic data releases. The positive start to the week has set a hopeful tone, but the financial landscape remains dynamic, with potential challenges and opportunities ahead.

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Kaitlyn covers all things investing. She especially covers rising stocks, investment ideas, and where big investors are putting their money. Born and raised in San Diego, California.