Tech rally drives stocks higher as AI trade is back on |
The S&P 500, Nasdaq 100, and Russell 2000 all climbed markedly higher on Monday. Broadcom was the best-performing stock in the S&P 500 as rave reviews for Google’s Gemini 3 boosted the appeal of its custom chips. Tech led the pack among sector ETFs as the AI trade was back in favor, followed by consumer discretionary, driven by gains in Tesla, then communication services, driven by gains in Alphabet. In fact, every BATMMAAN stock rose. Dovish commentary from Fed governor Christopher Waller fueled December rate cut optimism.
Stocks that moved higher: |
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Novo Nordisk sank after the pharma giant shared that oral semaglutide — a key ingredient behind its Ozempic and Wegovy drugs — didn’t slow Alzheimer’s disease in two trials.
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Grindr fell after it announced that a committee of board members decided to disengage with a take-private proposal by its majority shareholders due to “uncertainty as to the financing” for the deal.
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“Longer term dip buying right now appears less likely and bearish momentum is reinforced,” writes Tallbacken Capital Advisors CEO Michael Purves. Read more. |
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“For investors this convergence of entertainment and speculative finance signals heightened behavioral risk,” writes BofA.
Read more. |
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- Google has smoked the rest of its Big Tech peers this year
Alphabet is top of the BATMMAAN food chain, gaining over 60% in 2025. -
About half of American adults use YouTube and Facebook every single day
TikTok, Reddit, and Threads are all growing, but YouTube remains the most widely used platform. -
Michael Burry launches paywalled Substack after de-registering his hedge fund
The “Big Short” investor has taken aim at Nvidia in the first newsletter.
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Altman: OpenAI’s AI gadget now has a prototype
Don’t get too excited — the actual product could be nearly two years away. -
Anthropic releases Claude Opus 4.5, as AI war heats up
The new model posted impressive benchmark scores for coding, beating out GPT 5.1 and Gemini 3.
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Apple cuts sales jobs in rare layoff
“Dozens of roles” have been cut from Apple’s sales team, serving business, schools, and government accounts, according to Bloomberg.
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Musk: We will build AI chips at higher volumes “than all other AI chips combined”
Musk said Tesla is planning an Apple-style annual release cycle for its “A” series of custom AI chips, which are used in its cars and data centers.
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Amazon plans to invest up to $50 billion for “AI and supercomputing infrastructure” for the US government
The deal will create the government’s first AI high-performance computing infrastructure, adding nearly 1.3 gigawatts of capacity.
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After volatile year, Citi analyst sees risks of investor exhaustion
Citi US Equity Strategist Scott Chronert laid out his case for the markets to largely chop sideways for the rest of the year. -
Amazon now has 900 data centers spread across 50 countries, report says
Documents seen by Bloomberg show a sprawling global network of Amazon-owned facilities, as well as colocation arrangements, that is growing rapidly.
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