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Top Stock Movers Now: Broadcom, Micron Technology, Supermicro, Ford, and More
Key Takeaways
The Nasdaq climbed to a fresh high intraday Monday as tech stocks gained ahead of an expected decision on interest rates from the Federal Reserve later this week. The S&P 500 also rose, while the Dow was little changed.
Micron Technology ( MU ) led gains on the Nasdaq and S&P 500 on optimism about its earnings report due after the market closes Wednesday.
Broadcom ( AVGO ) shares surged to another record high in the wake of its better-than-expected earnings last week as Bernstein analysts called it a "top pick" along with artificial intelligence (AI) darling Nvidia ( NVDA ).
Bitcoin also kept up its record-setting pace, helping boost shares of MicroStrategy ( MSTR ), the biggest corporate holder of the digital currency. The company is also set to join the Nasdaq 100 Index .
Honeywell International ( HON ) shares were higher after the maker of aerospace, buildings, and safety products said it is considering spinning off its aerospace business.
Super Micro Computer ( SMCI ) was the worst-performing stock in the S&P 500 in the wake of Friday's announcement the stock will be removed from the Nasdaq 100 Index and reports the server maker is looking for ways to raise capital.
Shares of Ford Motor ( F ) dropped following a downgrade from Jefferies, which cited inventory concerns.
Oil and gold futures fell. The yield on the 10-year Treasury note was little changed. The U.S. dollar gained on the euro and yen, but lost ground to the pound.
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