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."

Sign up for Kiplinger’s Free E-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.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Will Your State End Tax on Tips This Year?
State Tax While President Trump spearheads federal talk on tips, several key states are considering ending taxes on tip income.
By Kate Schubel Published
-
From wire fraud to fake listings, real estate scams are becoming more sophisticated. Discover how to protect yourself from common scams in 2025.
Learn how to recognize and prevent the latest real estate scams.
By Dori Zinn Published
-
Stock Market Today: Dow Adds 353 Points Despite Soft Retail Sales
Investors and traders shake off another set of shaky economic numbers and send 10 of 11 sectors higher on Monday.
By David Dittman Published
-
CoreWeave IPO: Should You Buy CRWV Stock?
The CoreWeave IPO will mark the biggest public offering of the year, with the AI cloud company expected to start trading on the Nasdaq in late March.
By Karee Venema Published
-
Stock Market Today: Dow Jumps 674 Points in Friday's Relief Rally
The gains weren't limited to stocks, though, with gold futures closing above the $3,000 per ounce mark for the first time.
By Karee Venema Published
-
Stock Market Today: Stocks Drop on Trump's EU Tariff Threats
The White House said alcohol imports from the European Union could soon face tariffs of 200%.
By Karee Venema Published
-
Stock Market Today: Nasdaq Shines In Volatile Session
It was another up-and-down day for stocks as market participants weighed encouraging inflation data against the latest tariff headlines.
By Karee Venema Published
-
Stock Market Today: Trump Drives Another Up-and-Down Day
Investors, traders and speculators as well as businesses and households continue to adjust to rapidly changing times.
By David Dittman Published
-
Should You Sell Tesla Stock as Elon Unrest Grows?
Tesla's CEO is wearing many hats and is managing them "with great difficulty."
By David Dittman Published
-
Stock Market Today: Dow Off 890 Points on Tariff Uncertainty
President Donald Trump still believes his ever-evolving plan for global trade will be "great for us," but "it takes a little time."
By David Dittman Published