US stocks edged higher on Monday as Wall Street kept up a record-setting streak on the back of Big Tech megacaps.
The Dow Jones Industrial Average (^DJI) nudged up 0.2%, while the S&P 500 (^GSPC) rose almost 0.5%. The tech-heavy Nasdaq Composite (^IXIC) led the way, rising 0.7%. All three major averages posted their third consecutive day of fresh records.
Nvidia (NVDA) stock surged to close at a record high, as the company announced it would invest up to $100 billion in OpenAI in the coming years. Oracle (ORCL) shares also jumped amid the news, alongside the White House confirming it would be part of a consortium of investors that will control TikTok’s US operations.
Meanwhile, Tesla (TSLA) was also rallied near a 2025 high as investors looked ahead to the company’s self-driving future and new products.
Markets are waiting for Friday’s fresh reading on the Fed’s preferred inflation gauge, the Personal Consumption Expenditures price index, to test those wagers. A weak print is likely to lift the odds of another quarter-point cut in October. Wall Street expects PCE in September to show price pressures are persisting but remain tame enough to keep the Fed on track.
Meanwhile, investors will listen out for any other hints from a packed schedule of Fed speakers in the coming days, including Chair Jerome Powell and President Trump-backed Stephen Miran. The newly installed Fed governor said Monday that he believes interest rates should be roughly 2 percentage points lower. Powell is set to speak on Tuesday.
Markets were also watching for any fallout from Trump’s latest immigration crackdown. On Friday, his administration said US companies will face a $100,000 fee for H1-B work visas, prompting the likes of Microsoft (MSFT) and Goldman Sachs (GS) to send urgent emails warning employees.
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Today at 8:04 PM UTC
Dow, S&P 500, Nasdaq notch their third record in a row as Nvidia touches record
US stocks posted a third day of record closes as Big Tech megacaps rose.
The Dow Jones Industrial Average (^DJI) gained 0.2%, while the S&P 500 (^GSPC) gained nearly 0.5%. The tech-heavy Nasdaq Composite (^IXIC) edged up 0.7%, led by shares of Nvidia (NVDA).
The AI chipmaker closed at a new record on Monday following the announcement of its $100 billion investment deal with OpenAI, the maker of ChatGPT.
All three major averages posted their third consecutive day of fresh records, while gold (GC=F) also gained on Monday, touching fresh highs. The precious metal is up more than 40% year-to-date, on track for its best annual gain since 1979.
Today at 7:10 PM UTC
‘Mag 7’ stocks positive for the year as Apple rallies, Nvidia touches new highs
All of the “Magnificent Seven” stocks are positive year to date, as Apple (AAPL) shares were the last of the megacap tech players to fully wipe out their 2025 losses on Monday.
The iPhone maker jumped more than 4%, lifting its gains since the start of the year to nearly 2%.
Tesla (TSLA) turned positive last week after CEO Elon Musk disclosed a $1 billion purchase of the EV maker’s stock. Shares rallied on Monday following Musk’s friendly encounter with former President Trump at a Sunday memorial for activist Charlie Kirk.
Nvidia (NVDA) hit fresh all-time highs after announcing a $100 billion investment in OpenAI (OPAI.PVT), the maker of ChatGPT. The AI chipmaker has risen 36% year to date, outperforming the rest of the Magnificent Seven group.
Today at 6:40 PM UTC
ASML stock rises as Morgan Stanley upgrades to Overweight rating
The vital AI chipmaking machinery producer ASML (ASML) saw shares jump Monday after Morgan Stanley analyst Lee Simpson upgraded its stock to Overweight from Equal-weight, lifting his price target to 950 euros ($1,120) from 600 euros ($707).
ASML makes crucial EUV (extreme ultraviolet) lithography machines that cost hundreds of millions of dollars and are used to make the world’s most advanced chips by manufacturers including TSMC (TSM), Intel (INTC), and Samsung (005930.KS).
Morgan Stanley’s Simpson pointed to potential “growth drivers” such as a potential uptick in AI-driven demand, more “sustainable” sales of chips from Intel, and strengthening demand for memory chips.
“We expect order momentum to build before year-end 2025 for delivery in late 2026/27,” Simpson said, referencing ASML’s EUV machines.
Simpson is the second analyst to upgrade ASML shares this month. Arete Research’s Jim Fontanelli also upgraded the stock earlier this month.
Still, Simpson said the weakness of Intel and Samsung’s manufacturing businesses relative to TSMC presents a risk for ASML. He said currently there is a “near zero” sales contribution to ASML from Intel and only modest sales from Samsung.
“Reduction to single customer interest (e.g., TSMC only) could present a risk to our view,” he said.
Today at 6:08 PM UTC
Constellation, Vistra rally on bullish analyst rating
Shares of Constellation Energy (CEG) and peer Vistra (VST) rallied on Monday after the nuclear energy companies received a bullish analyst call.
Scotiabank analyst Andrew Weisel rated both companies with a Sector Outperform rating. Constellation, which is up more than 50% year to date, received a price target of $401. Weisel forecast Vistra will reach $256 over the next year.
Electricity and nuclear-related stocks have been on fire this year as demand for data center power skyrockets.
Shares reached session highs on Monday after Nvidia (NVDA) announced it would invest up to $100 billion in ChatGPT maker OpenAI (OPAI.PVT).
Today at 4:59 PM UTC
Nvidia surges on new OpenAI agreement
Nvidia (NVDA) stock soared back toward an all-time high after the company announced it would invest up to $100 billion in OpenAI (OPAI.PVT).
Reuters has more details on the agreement:
The new Nvidia investment comes days after the company said it would invest up to $5 billion in struggling chipmaker Intel (INTC), whose shares surged in the aftermath.
Oracle rises as tech firm officially named an investor in new TikTok venture
Oracle (ORCL) shares reversed direction to rise 3% midday as the company was officially named in a new TikTok deal.
A senior White House official on Monday morning confirmed the details of the TikTok deal, which will move the social media app’s US operations into a new joint venture based in the United States and controlled by American investors, who will have a majority of the new company’s ownership stake and of its board.
Oracle and Venture Private Equity firm Silver Lake are set to lead the new venture, with China-based tech giant ByteDance holding a less than 20% equity stake.
The venture will receive a copy of TikTok’s valuable content recommendation algorithm, which will be “fully inspected” and “retrained” by Oracle — the group’s security provider — on US user data. The algorithm will be regularly inspected by US government officials.
“We feel [this] meets every security requirement that we need for the algorithm to make sure it’s behaving appropriately,” said a senior White House official.
Apple jumps to highest since level December as Wedbush boosts price target to $310
Apple (AAPL) shares touched just over $251 on Monday, their highest level since December 2024, as Wedbush analyst Dan Ives raised his price target on the stock to $310 from $270.
The new price target is the highest of Wall Street analysts who cover the stock and implies a nearly 24% gain from Apple’s current level.
“Heading into this iPhone 17 cycle we were expecting this upgrade cycle to be a good, but not great one,” Ives wrote. “Instead the combination of a pent-up consumer upgrade cycle with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last 4 years, coupled with some design changes/enhancements have been the magical formula out of the gates.”
Apple shares jumped last week as its iPhone 17 lineup hit store shelves.
Today at 1:43 PM UTC
Stocks retreat from records at the open
US stocks pulled back at the open on Monday after rallying to fresh all-time highs at the end of last week.
The Dow Jones Industrial Average (^DJI) sank roughly 0.4%, while the S&P 500 (^GSPC) dipped 0.2%. The Nasdaq Composite (^IXIC) was about 0.1% lower, as megacap tech stocks were mixed amid Trump’s new $100,000 fees for H1-B work visas and Oracle’s (ORCL) CEO shakeup.
Investors are looking ahead to a slew of Federal Reserve speakers this week, including Fed Chair Jerome Powell and Stephen Miran. Wall Street is also watching for the personal consumption expenditures price index reading on Friday, a key inflation print, for clues to the chances of further US interest-rate cuts.
Today at 1:15 PM UTC
Oracle stock dips as software giant replaces CEO
Oracle shares dipped more than 1% before the market open after the software giant said it appointed two new co-CEOs to replace Safra Catz.
The two new chief executives are Clay Magouyrk, who was the president of the company’s AI cloud business, Oracle Cloud Infrastructure (OCI), and Mike Sicilia, who was the president of Oracle Industries. The two were named presidents of those Oracle segments in June, which Business Insider reported at the time to be part of a broader succession plan, citing a person familiar with the matter.
Oracle’s former CEO, Safra Catz, served in her role since 2014. The Israeli-American billionaire and former investment banker has been appointed executive vice chair of the company’s board of directors.
“In her role as Vice Chair, Safra and I will be able to continue our 26-year partnership — helping to guide Oracle’s direction, growth and success,” Oracle chair Larry Ellison said in a statement.
Oracle’s stock decline reverses gains earlier in the morning after news that the tech firm will recreate and provide security for a new TikTok algorithm to allow the social media app to continue operating in the US, avoiding an impending ban. Analysts have told Yahoo Finance that Oracle’s involvement in such a deal is seen as a positive for the software company because it allows it to continue its partnership with TikTok, storing the app’s American user data. That deal accounted for 5% of the revenue seen by OCI in its 2025 fiscal year, MorningStar analyst Luke Yang estimated.
Today at 12:45 PM UTC
Weight-loss drug developer Metsera to be acquired by Pfizer, stock soars 60%
Metsera stock (MTSR) surged over 60% in premarket trading on Monday on news that Pfizer (PFE) would acquire the weight-loss drug developer in a $7.3 billion deal.
Pfizer stock rose 1% as the company looks to shore up its position in the obesity treatment market after its own weight-loss pill, danuglipron, faced setbacks in its clinical trials, which led the company to abandon that drug’s development.
Metsera has several GLP-1 therapeutic candidates in the pipeline. Under the terms of the agreement, Pfizer will acquire all outstanding shares of Metsera common stock for $47.50 per share, valuing the company at around $4.9 billion. Additionally, Metsera is eligible to receive additional payments of up to $22.50 per share in cash tied to three specific clinical and regulatory milestones.
“The proposed acquisition of Metsera aligns with our focus on directing our investments to the most impactful opportunities and propels Pfizer into this key therapeutic area,” Pfizer CEO Albert Bourla said in a statement.
T-Mobile names telecom veteran Srini Gopalan as CEO
T-Mobile (TMUS) stock fell around 1% in premarket trading on Monday after the company announced that its CEO, Mike Sievert, would step down on Nov. 1.
Chief operating officer, Srinivasan Gopalan, will take over as chief executive, the company said. He has held senior leadership positions at Bharti Airtel, Capital One, Vodafone, and Deutsche Telekom’s Germany business. Sievert, who became CEO in 2020, will shift to become vice chairman and advise on long-term strategy.
Oracle to secure TikTok’s algorithm in Trump-backed deal
As the US and China near a deal to keep TikTok running in the US, a White House official said that Oracle (ORCL) would operate the algorithm and secure the data of US users on the Chinese short-form video app.
According to Bloomberg, a preliminary divestiture deal would allow American buyers to lease a copy of TikTok’s algorithm from its parent company, ByteDance, and retrain it for US users.
Oracle would store the data from US users of the app in a secure cloud with controls aimed at keeping out foreign adversaries, including China, a White House official said. ByteDance would not have access to data on TikTok’s US users nor to its algorithm in the US.
Shares of Oracle rose 0.8% in premarket trading on Monday. Year to date, the stock is up 85%.
Fed’s Powell, Miran set to speak with stocks at record highs: What to watch this week
Wall Street is bracing for a busy week of comments from Fed officials and updates on economic data after the first US rate cut of 2025 boosted stocks to record highs, notes Yahoo Finance’s Jake Conley.
‘This isn’t your grandfather’s S&P 500’: Wall Street says stocks could keep rallying
Stocks hit fresh record highs as the Fed delivered its expected rate cut, fueling what some on Wall Street see as a short-term “honeymoon rally.” Other strategists believe there’s more room for gains.
Snap (SNAP) stock rose 7% in premarket trading on Monday. Last week analysts from JMP Securities maintained its Market Perform rating on the company, citing strong advertiser sentiment.
Coinbase (COIN) shares fell 3% in premarket trading following a pullback in cryptocurrencies, which saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp selloff.
Today at 10:17 AM UTC
Big Tech stocks hold steady after Trump’s visa fees crackdown
Shares in the “Magnificent 7” megacaps were little changed in Monday’s premarket as investors appear to shrug off President Trump’s big hike in fees for visas used heavily in the US tech industry.
The Trump administration said Friday that companies have to pay $100,000 per year for H-1B working visas, part of its crackdown in immigration.
That plan prompted some Big Techs and Wall Street banks to warn their employees not to leave the US or to return to the country quickly. But Apple (AAPL), Nvidia (NVDA), Microsoft, Alphabet, Amazon, Meta Platforms (META) and Tesla (TSLA), traded steady in premarket, in a range of less than 1% higher or lower.
BYD stock falls after report Buffett sold his entire stake
BYD’s (BYDDY, 1211.HK) shares sank in Hong Kong in the wake of a report that Warren Buffett’s investment firm had dumped its stake in the Chinese EV maker.
