Wall Street today: US stocks rebound after sharp losses | Stock Market News
Source: Live Mint
US stock indices opened higher on Tuesday after previous session’s sharp losses.
At the opening bell, the Dow Jones Industrial Average rose 42.8 points, or 0.10%, to 44,756.36. The S&P 500 rose 14.7 points, or 0.24%, to 6,026.97, while the Nasdaq Composite rose 76.4 points, or 0.39%, to 19,418.219.
Nvidia and other tech stocks are skittish and flipping between gains and losses.
The spotlight remains on Nvidia, whose chips are powering much of the move into AI and whose stock has become a symbol of the surrounding frenzy. It slipped 0.8% Tuesday after losing an initial gain following its plunge of nearly 17% plunge the day before, its worst since the 2020 COVID crash.
Other AI-related companies also flipped from initial gains to losses, including drops of 0.8% for chip company Broadcom and 3.7% for Constellation Energy, which has climbed on expectations it will help supply the electricity that vast AI data centers would gobble up.
They are under threat after DeepSeek, a Chinese company, said it was able to develop a large language model that can perform as well as big U.S. rivals but at fraction of the cost. That raises questions about whether all the spending expected for AI chips and electricity will need to happen.
AI-related stocks have been Wall Street’s biggest stars in recent years, soaring on expectations for big continued spending on what’s hoped to propel the next reshaping of the global economy. The huge gains, though, also created criticism that the stock prices had simply gone too high, too fast.
JetBlue Airways dropped 19.9% despite reporting a milder loss for the December quarter.
In the bond market, the yield on the 10-year Treasury rose to 4.55% from 4.53% late on Monday.
BULLION
Gold prices held steady on Tuesday, anchored by stability in European equities and U.S. stock futures, a day after bullion’s sharp decline amid a tech-led selloff.
Spot gold was steady at $2,742.37 per ounce by 12:05 GMT. US gold futures rose 0.3% to $2,746.70.
Spot silver fell 0.1% to $30.17 per ounce,
