US Stocks Rally as Bitcoin Crosses $100,000, Chip Stocks Dominate Early Gains

US stocks rallied on Monday morning, led by surging technology shares and a significant milestone for bitcoin, which climbed above $100,000 for the first time in nearly three weeks.

US stocks began the week with a bullish rally on Monday, fueled by surging technology shares and a significant milestone for bitcoin. Here's a summary of the market's動き:

The Nasdaq Composite soared 1.9%, leading the gains among the major indexes. The Dow Jones Industrial Average rose 0.6%, while the S&P 500 advanced 1.2%.

The market's bullish momentum followed a strong Friday performance that ended a weeklong losing streak. However, the S&P 500 has now posted losses in three of the past four weeks as the post-election rally shows signs of cooling.

Chip stocks dominated the early gains, buoyed by record fourth-quarter revenue from Foxconn. The Taiwan-based electronics manufacturer, a major supplier for Nvidia (NVDA) and Apple (AAPL), attributed its growth to surging demand for AI technologies.

Nvidia shares jumped 5% ahead of CEO Jensen Huang's much-anticipated keynote at the CES trade show in Las Vegas, where investors expect updates on its Blackwell chip and AI initiatives.

The broader tech rally extended beyond semiconductors. Large-cap technology companies posted notable gains, including:

Server maker Super Micro Computer (SMCI) continued its upward trajectory, rising 9% after a double-digit gain on Friday. Investors are optimistic about its role in supplying AI-powered server hardware.

Bitcoin surged past $100,000, reaching a three-week high of $102,200, driven by optimism surrounding a crypto-friendly administration under President-elect Donald Trump. The digital currency has gained 45% since the election, fueled by expectations of favorable regulatory policies.

Shares of bitcoin advocate MicroStrategy (MSTR) rose over 6% after announcing additional bitcoin purchases and plans to raise capital through a share offering.

Uber (UBER) jumped 3% after announcing an accelerated $1.5 billion stock buyback plan. The move is part of its broader $7 billion repurchase program, first unveiled in February 2024. Uber CFO Prashanth Mahendra-Rajah highlighted the company's focus on scaling free cash flow while returning value to shareholders.

The buyback will retire over 18.5 million shares, representing approximately 1% of Uber's market capitalization. The company signaled its belief that its stock is undervalued and expressed confidence in its growth prospects.

The yield on 10-year Treasurys climbed slightly to 4.63%, reflecting investor anticipation of Friday's December jobs report, which could influence the Federal Reserve's upcoming interest rate decisions.

Gold futures dipped 0.4% to $2,645 per ounce, while crude oil futures rose modestly amid stable energy demand.