The S&P 500 today is trading higher this Monday, driven by the rebound in technology stocks and investors’ expectations regarding upcoming economic indicators from the United States. Sector performance reinforces the appetite for risk assets, while Bitcoin is going through a correction after the gains recorded over the weekend.
Among the main Wall Street indexes, the S&P 500 was up 0.58%, trading at 7.526,95 points. The Nasdaq Composite, with strong participation from technology companies, rose 1.11%, to 26.119,43 points. Meanwhile, the Dow Jones Industrial Average fell 0.15%, to 52.821,75 points.
The small-cap index Russell 2000 was up by 0,55%, traded at 3.012,61 points. The VIX, an indicator that measures the expected volatility of the U.S. market, was up by 1,58%, to 16,06 points. In commodities markets, gold was also rising by 0,40%, quoted at 4.142,20.
The main factor behind the rise in U.S. stock markets continues to be the recovery of companies tied to artificial intelligence. After the pressure faced by the semiconductor sector at the end of June, investors returned to increase exposure to technology stocks in light of new signs of consistent demand for AI-focused infrastructure.
Among the highlights of the day is Foxconn, officially known as Hon Hai, one of Nvidia’s leading suppliers. The company reported quarterly sales growth above market projections, reinforcing the expectation that investments in artificial intelligence continue to accelerate.
The results also increased expectations for Samsung Electronics’ quarterly earnings, scheduled for Tuesday. Analysts expect a significant rise in profit at the memory-chip maker, driven by strong demand for components used in servers and systems focused on artificial intelligence.
In the energy market, oil prices show little fluctuation following OPEC+ confirming the gradual increase in production targets. The resumption of vessel traffic through the Strait of Hormuz also helped reduce concerns about potential impacts on global supply and about new inflationary pressures.
Meanwhile, investors are following the release of U.S. services-sector data and awaiting the publication of the minutes from the first meeting of Federal Reserve under the chairmanship of Kevin Warsh. The document may provide new indications about the path of U.S. monetary policy in the coming months.
In the crypto market, the Bitcoin was trading at US$ 61.952, down 1,25% over the last 24 hours. During Sunday night, the market’s biggest cryptocurrency was even trading near US$ 64 thousand, tracking optimism in global markets, but it fell at the start of the day. However, throughout this Monday, it began a correction move, as investors took some of the gains from the recent appreciation, while staying focused on upcoming U.S. economic indicators and their possible impact on risk assets.