Stock Market Today: Dow Gains 188 Points To Start the Short Week
A big rally in tech stocks helped the main indexes start the holiday-shortened week on a strong note.


Stocks opened lower Monday but the main indexes found their footing by lunchtime and rallied into the close. Technology stocks helped lead the charge, with Autodesk (ADSK) surging on activist investor news. The software maker was hardly the day's only big gainer, though, with several semiconductor stocks notching significant wins.
At the close, the Dow Jones Industrial Average was up 0.5% at 38,778 and the S&P 500 was 0.8% higher at 5,473. The tech-heavy Nasdaq Composite outperformed, gaining 1.0% to 17,857 as several large- and mega-cap stocks popped.
Autodesk, for one, jumped 6.5% on news Starboard Value has built a roughly $500 million stake in the company. According to The Wall Street Journal, the activist investor plans to push for major changes at the software firm, including improving its corporate governance.

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.
Chip stocks rally to start the week
While ADSK stock's rally was notable, the broad upside seen across semiconductor stocks was arguably more impressive.
Micron Technology (MU), for instance, gained 4.6% after Susquehanna International Group analyst Mehdi Hosseini raised his price target on the memory chipmaker to $185 from $143. MU has already more than doubled for the year to date and the new price target represents implied upside of more than 25% to current levels. It also comes ahead of Micron's June 26 appearance on the earnings calendar.
Hosseini says there is increased confidence in pricing trends for DRAM and NAND chips, which should help Micron post a beat-and-raise quarter. "MU has been one of our top long ideas and remains as such," the analyst adds.
Micron's gain created a halo effect for other chip stocks, including Super Micro Computer (SMCI, +5.1%) and Broadcom (AVGO, +5.4%).
Adobe pulls back on profit-taking
Not all tech stocks were higher today, though. Following Friday's red-hot post-earnings rally, Adobe (ADBE) shares finished 1.3% lower today. However, this negative price action was likely just some profit-taking given the Photoshop maker's longer-term prospects.
In its fiscal second-quarter earnings report released Thursday night, Adobe "put artificial intelligence (AI) center stage and is most strongly positioned to benefit from the recent advancements in generative AI," says Stephen Messer, AI expert and co-founder of Collective[i], an enterprise AI company designed to optimize revenue growth.
Messer adds that "it's incredible to see them transforming into an AI-first company via their own models," which include Firefly, and integrate with other AI companies including OpenAI.
The stock market will be closed Wednesday
This week is a short one for market participants. As a reminder, Wednesday is a stock market holiday, with both the equities and bond markets closed in observance of Juneteenth.
Related content
- Here's Why Best Buy Stock Could Rally Another 17%
- Surgeon General Eyes Social Media Stocks With Warning Label Push
- Are Banks Open on Juneteenth in 2024?
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.
-
Stock Market Today: Great Power Affairs Mesmerize Markets
The U.S. and China are at least talking about talking about tariffs, and investors, traders and speculators are showing a little less fear.
By David Dittman
-
Is Walmart Plus Worth It?
There are tons of exciting Walmart Plus benefits – but are they worth the $98 annual fee?
By Rachael Green
-
Stock Market Today: Great Power Affairs Mesmerize Markets
The U.S. and China are at least talking about talking about tariffs, and investors, traders and speculators are showing a little less fear.
By David Dittman
-
Three Options for Retirees With Concentrated Stock Positions
If a significant chunk of your portfolio is tied up in a single stock, you'll need to make sure it won't disrupt your retirement and legacy goals. Here's how.
By Evan T. Beach, CFP®, AWMA®
-
Four Reasons It May Be Time to Shop for New Insurance
You may be unhappy with your insurance for any number of reasons, so once you've decided to shop, what is appropriate (or inappropriate) timing?
By Karl Susman, CPCU, LUTCF, CIC, CSFP, CFS, CPIA, AAI-M, PLCS
-
Stock Market Today: Stocks Rise on Good Volatility
Investors, traders and speculators continue to process the "known unknown" of global tariff-and-trade war negotiations.
By David Dittman
-
Before You Invest Like a Politician, Consider This Dilemma
As apps that track congressional stock trading become more popular, investors need to take into consideration some caveats.
By Ryan K. Snover, Investment Adviser Representative
-
How to Put Together Your Personal Net Worth Statement
Now that tax season is over for most of us, it's the perfect time to organize your assets and liabilities to assess your financial wellness.
By Denise McClain, JD, CPA
-
Stock Market Today: Trump Retreats, Markets Rejoice
Stocks rally, yields soften, the dollar rises, and even beaten-down names enjoy the wages of potential trade peace.
By David Dittman
-
Tesla Stock Pops as Elon Musk Promises DOGE Draw Back
Tesla reported a sharp drop in first-quarter earnings and sales, as the EV maker suffered a backlash to its CEO's political ambitions.
By Karee Venema