The Nasdaq hit an all-time high in intraday trading on Monday, July 8, 2024, as technology stocks gained.
Intel shares rose after Melius Research suggested the stock could get a boost from artificial intelligence in the second half of the year.
Corning shares rose after the company raised its guidance due to strong demand.
The Nasdaq hit a record high in intraday trading on Monday, while the S&P 500 and Dow were little changed as technology stocks advanced.
Corning (GLW) was the best-performing stock in the S&P 500 after the specialty glass maker raised its guidance on growing demand for its optical connectivity products for generative artificial intelligence (AI) applications.
Intel (INTC) shares rose, along with AMD shares (AMD) after analysts at Melius Research suggested the stock could see AI-powered gains in the second half of the year.
IDEAYA Biosciences shares (IDEA) also rose after the oncology drug company reported positive results from a phase 2 trial of its treatment for some bladder and lung cancers.
Solar energy stocks gained ground after Bank of America upgraded SolarEdge Technologies’ rating (SEDG), arguing that the stocks are undervalued.
Devon Energy (DVN) Shares fell after the energy company agreed to pay $5 billion to buy privately held Grayson Mill Energy, expanding its reach into the Williston Basin.
Paramount Global (PARACA) Shares fell after the company agreed to merge with Skydance Media, ending months of negotiations.
Oil and gold futures fell, while the 10-year Treasury yield advanced. The US dollar gained ground against the euro, but weakened against the pound and yen. Prices of most major cryptocurrencies rose.
