The stock market had a case of the Mondays. The week kicked off on a slow note, with news from China that the country is banning Intel $INTC and AMD $AMD chips in its government computers.
The market had a case of the Mondays as the Dow dipped along with other major stock indexes
The stock market had a case of the Mondays. The week kicked off on a slow note, with news from China that the country is banning Intel $INTC and AMD $AMD chips in its government computers.
All three major market indexes that saw record highs last week hit pause on Monday — and slipped a little.
The Dow Jones Industrial Average, still shy of the 40,000 mark, fell 162 points, or 0.4%. The S&P 500 and the Nasdaq $NDAQ each dropped about 0.3%.
Shares of the Donald Trump-linked company Digital World Acquisition Corp (DWAC) soared more than 35%, closing at about $50 per share. Trump’s social media company Truth Social merged last week with Digital World Acquisition Corp, a shell company that was already listed on the Nasdaq. DWAC stock on Monday recovered what it lost on Friday.
The newly combined company will start trading Tuesday on the Nasdaq under the stock symbol DJT.
Even though the market started sluggish, AI stocks were in demand as always. The AI chipmaker Nvidia $NVDA took a day off today after being a star stock performer in recent weeks — this time rising less than 1% to close at $950.
And Constellation Energy Corp hit a new high, closing up 5% $187 per share.
After Intel and AMD stocks dipped in the morning, they remained in the red zone at the end of the day. Intel stock closed down 1.75% to just under $42 per share, while AMD stock dropped 0.6% to about $178.
United Airlines, which is facing renewed federal scrutiny over a series of safety issues, also sunk on the day, closing down 3.4% to about $45 per share.
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