Stocks closed mixed Monday. Negative sessions for mega-cap stocks Meta Platforms (META. -2.3%) and Microsoft (MSFT, -1.0%) kept pressure on the Nasdaq Composite and the S&P 500, while a big gain for Nike (NKE, +4.9%) allowed the Dow Jones Industrial Average to close in the green.
By the numbers, the Nasdaq slumped 1.2% to 19,286, the S&P 500 fell 0.5% to 5,983, and the Dow Jones Industrial Average added 0.08% to 43,461.
Meta's share price on Monday was hit by reports the social media company could face anti-competitive fines from South Africa's Competition Commission. Microsoft fell after TD Cowen said the tech giant had canceled leases for some U.S.-based data centers.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
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.
Nike, meanwhile, got a lift after Jefferies analyst Randal Konik upgraded the athletic apparel and footwear maker to Buy from Hold and called it a top stock pick.
The company's new CEO, Elliott Hill, who took over the role in October, "is tackling product and distribution issues head-on, positioning the brand to again outgrow the market and take back lost share," Konik says.
He adds that surveys indicate the Nike brand "remains very strong, proving that issues were self-inflicted and competitive threats less severe."
Apple unveils $500 billion investment plan
Apple (AAPL) was another Dow Jones stock that finished in the green, adding 0.6% after the iPhone maker committed to spending $500 billion over the next four years on investments in the United States and adding 20,000 new hires.
"From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we're thrilled to expand our support for American manufacturing," said Apple CEO Tim Cook in a press release.
The money will also be used toward Apple Intelligence infrastructure and data centers and Apple TV+ productions in 20 states, according to the company.
CFRA Research analyst Angelo Zino calls the headline number "deceptive" as it includes all spending, including operating expenses and capital expenditures. Additionally, it won't circumvent Trump tariffs on China.
However, Zino notes that "AAPL made a similar announcement during Trump's first tenure," so at the very least, it will "put the company in the good graces of the new administration should exemptions be on the table."
Nvidia falls ahead of earnings
Elsewhere, Nvidia (NVDA) shed 3.1% ahead of the chipmaker's highly anticipated fiscal fourth-quarter earnings report, set to be released after Wednesday's close. Make sure to follow along with our Nvidia earnings live blog.
John Belton, portfolio manager at Gabelli Funds, says this print will provide "more clarity on the early launch of Blackwell – how it's going and what demand looks like." He adds that results from mega-cap companies "painted a positive picture for Nvidia's customer base and demand outlook" over the next year.
Belton believes that Nvidia's total revenue is the most important performance metric, "as it will indicate how strong demand has been for older-generation Hopper products."
Analysts expect Nvidia to report fiscal Q4 revenue of $38.1 billion, up 72.5% year over year.
Related content
- Best Investments to Sidestep a Trade War
- Sherwin-Williams Is a Sleeper of the 100,000% Return Club
- How to Invest in the Nuclear Revolution
-
QUIZ: Test Your Retirement IQQuiz Are you smarter than…everyone else? Test your retirement smarts with this quiz.
-
Where There's a Will, There's a Way Your Assets Will Be Distributed as You WishYour will is the backbone of a strong, adaptable estate plan that ensures what you leave behind goes to your selected beneficiaries. Without a will, state laws determine who gets your assets.
-
Where There's a Will, There's a Way Your Assets Will Be Distributed as You Wish
Your will is the backbone of a strong, adaptable estate plan that ensures what you leave behind goes to your selected beneficiaries. Without a will, state laws determine who gets your assets.
-
I'm a Financial Adviser: This Is What You're Really Losing if You Cut Back on Your 401(k) ContributionsMissing out on the benefits of the employer match and compounding growth could force you to work longer and lower your standard of living in retirement. Here are some alternative options.
-
S&P 500 Hits New Highs as Rally Resumes: Stock Market TodayTech stocks were the biggest gainers on Wall Street today, with Nvidia and Dell making notable moves.
-
Should You Buy Gold as It Tops $4,000? Here's What the Experts SayRate cuts, a weak dollar and macro uncertainty have helped create a "perfect storm" for gold this year. Should investors add exposure or is it too late to buy?
-
Preferred Bank Stocks: The Investment Retirees (and Others) May Be Missing Out OnMost large banks issue preferred stocks that pay out fixed dividends, often with higher yields than bonds. Should you make room for them in your portfolio?
-
Don't Let Your Equity Compensation Trip You Up: A Financial Expert's GuideStock options, RSUs and other executive perks can come with some serious strings attached. To avoid a nasty tax surprise, you need a plan.
-
Rally Fades on Mixed AI Revolution News: Stock Market TodayAll three main U.S. equity indexes opened higher but closed lower as a seven-session winning streak for the S&P 500 came to an end.
-
The Spendthrift Trap: Here's One Way to Protect Your Legacy From an Irresponsible HeirA spendthrift clause in an estate plan can protect an inheritance from a financially irresponsible child's debts and poor decisions.
