U.S. stocks had a mixed day on Monday, with the Dow Jones reaching a one-month high while the S&P 500 and Nasdaq struggled. AI-related stocks took a hit, with Nvidia dropping over 6.5% for the third consecutive session. Despite recent losses, experts like Rod von Lipsey of UBS Private Wealth Management believe that the AI sector still has strong support and potential for growth.
While chip stocks like Broadcom, Qualcomm, and Marvell Technology faced losses, tech giants Apple and Meta Platforms saw gains. Reports of Meta Platforms potentially integrating its AI model into Apple’s new AI system boosted their stocks. Energy stocks, on the other hand, were the best performers of the day, with the sector gaining over 2.5%.
Investors are eagerly awaiting Friday’s Personal Consumption Expenditures Price Index report, which is expected to show a slowdown in inflation rates. Overall, despite some setbacks, experts remain optimistic about the future of AI and tech stocks in the market.
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