Stock Market Update and Economic News for Today

The US stock market saw a mix of movements on Monday, with the Nasdaq and S&P 500 on the rise as investors awaited a Federal Reserve interest rate decision and Big Tech earnings. At 9:51 a.m. ET, the Dow Jones Industrial Average was down, while the S&P 500 and Nasdaq were up.

Tech giants like Nvidia, Alphabet, Amazon.com, and Meta Platforms saw gains, while Tesla stock jumped after being added to Morgan Stanley’s “top pick” list. Crypto stocks also saw an uptick as bitcoin prices rose. However, Abbott Laboratories faced a setback after being ordered to pay $495 million in damages.

ON Semiconductor, on the other hand, reported stronger profit, leading to a 9.4% jump in its stock. The yield on the 10-year Treasury fell slightly. In the energy sector, oil prices fell amid concerns of escalating conflict in the Middle East.

Gold prices, on the other hand, rose due to geopolitical concerns. Spot gold and silver both saw gains. Overall, the market remains dynamic as investors keep a close eye on various factors influencing different sectors.