Stock Market Today: Stocks Bounce Back; UNP Rallies After CEO Splits
The major benchmarks closed higher Monday after notching their worst week of the year on Friday.
Stocks closed higher Monday, bouncing back after the major benchmarks finished their worst week of 2023 on Friday.
Amid declining Treasury yields, the rate-sensitive tech sector saw big gains, while a surge in the share price of railroad company Union Pacific (UNP) helped lift industrial stocks.
The three main indexes notched weekly losses around 3% last week – their biggest of the year so far. "The weakness in equity markets has come amidst a round of economic data that has been stronger than expected while inflation data has suggested the disinflationary process will be a bumpy road," says Michael Reinking, senior market strategist at the New York Stock Exchange. "Last week, yields moved above their December highs which seemed to be the trigger that finally caused some downside momentum in equity markets."
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Today's economic data was more mixed. While headline durable goods orders fell by a more-than-expected 4.5% month-over-month in January, the core reading, which excludes the volatile nondefense aircraft category, unexpectedly rose 0.7%. Elsewhere, pending home sales jumped a higher-than-anticipated 8.1% last month.
Still, bond yields declined, which sparked buying across Wall Street. The tech-heavy Nasdaq Composite climbed 0.6% to 11,466, the broader S&P 500 gained 0.3% to 3,982, and the blue-chip Dow Jones Industrial Average added 0.2% to 32,889.
In single-stock news, Union Pacific jumped 10.1% after the railroad operator said its CEO Larry Fritz will step down from the position later this year. The C-suite shift comes amid pressure from hedge fund Soroban Capital Partners, which owns roughly 4.6 million UNP shares.
Why Nvidia has been one of the best stocks to own
We've talked a lot about stock picking in this space recently. Whether it be the stocks Warren Buffett is buying and selling or the blue chip stocks favored by hedge funds or the top stock picks of billionaires. All of these show us what the smart money – those with deep pockets and access to research and insights typically not available to the average retail investor – are doing with their money.
But sometimes it's plain old math that reveals where the best investment ideas are. Take Nvidia (NVDA), for instance. Not only has NVDA stock been a recent market-beater, but it's turned in a jaw-dropping return for those who invested $1,000 in the semiconductor stock 20 years ago. And there's reason to believe Nvidia is positioned for more success. NVDA is one of the best AI stocks in the rapidly growing space, and the company's data center and automotive segments are seeing impressive growth.
-
4% and Chill? Find Out If This Distribution Rule Fits Your RetirementTake this simple quiz to discover whether the 4% Rule will work for you in retirement.
-
Oregon Tax Kicker in 2026: What's Your Refund?State Tax The Oregon kicker for 2025 state income taxes is coming. Here's how to calculate your credit and the eligibility rules.
-
Will IRS Budget Cuts Disrupt Tax Season? What You Need to KnowTaxes The 2026 tax season could be an unprecedented one for the IRS. Here’s how you can be proactive to keep up with the status of your return.
-
Dow Rises 313 Points to Begin a Big Week: Stock Market TodayThe S&P 500 is within 50 points of crossing 7,000 for the first time, and Papa Dow is lurking just below its own new all-time high.
-
Nasdaq Leads Ahead of Big Tech Earnings: Stock Market TodayPresident Donald Trump is making markets move based on personal and political as well as financial and economic priorities.
-
11 Stock Picks Beyond the Magnificent 7With my Mag-7-Plus strategy, you can own the mega caps individually or in ETFs and add in some smaller tech stocks to benefit from AI and other innovations.
-
Nasdaq Adds 211 Points as Greenland Tensions Ease: Stock Market TodayWall Street continues to cheer easing geopolitical tensions and President Trump's assurances that there will be no new tariffs on Europe.
-
Dow Soars 588 Points as Trump Retreats: Stock Market TodayAnother up and down day ends on high notes for investors, traders, speculators and Greenland.
-
If You'd Put $1,000 Into UPS Stock 20 Years Ago, Here's What You'd Have TodayUnited Parcel Service stock has been a massive long-term laggard.
-
Dow Dives 870 Points on Overseas Affairs: Stock Market TodayFiscal policy in the Far East and foreign policy in the near west send markets all over the world into a selling frenzy.
-
Small Caps Can Only Lead Stocks So High: Stock Market TodayThe main U.S. equity indexes were down for the week, but small-cap stocks look as healthy as they ever have.
