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Cryptocurrency News Articles

Mixed Performance in United States Equities as Technology and Basic Materials Advance

Jan 17, 2025 at 09:08 pm

United States equities ended Monday's trading session with a mixed performance, reflecting sectoral divergences in market sentiment. Gains in technology, basic materials, and consumer services propelled portions of the market higher, while declines in telecommunications, utilities, and consumer goods dragged other sectors lower.

Mixed Performance in United States Equities as Technology and Basic Materials Advance

Major stock indexes in the United States ended Monday’s trading session with mixed results, reflecting divergent market sentiment across sectors.

While gains in technology, basic materials and consumer services pushed parts of the market higher, declines in telecommunications, utilities and consumer goods dragged other sectors down.

At the close, the Dow Jones Industrial Average (DJIA) slipped by 0.04%, the S&P 500 climbed 0.58%, and the NASDAQ Composite surged 1.25%, fueled by strength in the tech sector.

Among the blue-chip DJIA members, NVIDIA Corporation (NASDAQ: NVDA) led the gains, rising 3.43% to close at $149.43, amid optimism for the semiconductor space. Amazon.com Inc. (NASDAQ: AMZN) added 1.53% to close at $227.61, and Microsoft Corporation (NASDAQ: MSFT) advanced 1.06%, settling at $427.85.

On the downside, Procter & Gamble Company (NYSE: PG) fell 2.70% to $160.67, marking the session’s steepest DJIA loss. Honeywell International Inc. (NASDAQ: HON) declined 2.11%, and Nike Inc. (NYSE: NKE) dropped 1.79%.

Among the broader S&P 500, Micron Technology Inc. (NASDAQ: MU) led the gainers, soaring 10.45% to close at $99.26, followed by Super Micro Computer Inc. (NASDAQ: SMCI), up 9.36%, and Teradyne Inc. (NASDAQ: TER), which climbed 7.20%.

Conversely, Axon Enterprise Inc. (NASDAQ: AXON) fell 5.05%, while Palantir Technologies Inc. (NASDAQ: PLTR) and Essex Property Trust Inc. (NYSE: ESS) slipped 4.97% and 4.03%, respectively.

The NASDAQ Composite showcased dramatic swings, with Boxlight Corp Class A (NASDAQ: BOXL) surging an astounding 265.22% to close at $1.68, hitting a 52-week high. Scisparc Ltd (NASDAQ: SPRC) gained 102.69%, and XTI Aerospace Inc. (NASDAQ: XTIA) advanced 99.52%.

At the other end of the spectrum, Real Good Food Company Inc. (NASDAQ: RGF) plunged 65.16%, hitting $1.25. Luna Innovations Incorporated (NASDAQ: LUNA) and GlucoTrack Inc. (NASDAQ: GCTK) also posted significant losses, with LUNA falling to a 5-year low and GCTK hitting an all-time low.

Declining stocks outnumbered advancing ones by 1,562 to 1,221 on the NYSE and by 1,701 to 1,603 on the NASDAQ. The CBOE Volatility Index, which measures the market’s fear gauge, edged down 0.56% to 16.04, signaling relative calm.

In commodities, gold futures for February delivery dipped 0.28% to $2,647.16 per ounce. Crude oil fell, with February delivery down 0.77% to $73.39 per barrel and March Brent crude slipping 0.44% to $76.17 per barrel.

In currency markets, the EUR/USD pair rose 0.79% to 1.04, while USD/JPY climbed 0.24% to 157.61. The US Dollar Index Futures slid 0.67%, settling at 108.07.

Investors will continue to monitor sectoral trends, geopolitical developments, and economic data for further direction as the trading week progresses.

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