Stock Market Today: Tech Stocks Soar Ahead of CES 2025
This week's annual technology event will give updates on AI, EVs and self-driving cars.
Stocks started Monday on a strong note, but the enthusiasm waned as the session wore on. Still, two of the three main benchmarks added to their year-to-date gains thanks to a big rally in the technology sector. Meanwhile, Walt Disney's (DIS) latest venture created plenty of tailwinds for communication services stocks.
While DIS stock slipped 0.1% following news the media and entertainment giant will merge its Hulu + Live TV business with fuboTV (FUBO), FUBO shares more than tripled. The merger will creat a combined streaming business that will trade under the FUBO ticker on the New York Stock Exchange. Disney will retain a 70% stake in the new business, with FUBO shareholders owning the rest.
The deal will also end a legal dispute initiated by Fubo to block the formation of Venu Sports, a sports-focused streaming venture between Disney, Warner Bros. Discovery (WBD, +2.5%) and Fox (FOX, +0.8%). This lifted shares of WBD and FOX.
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.
CFRA Research analyst Kenneth Leon recently upgraded Disney to Hold from Buy, saying he is "confident" the company's direct-to-consumer (DTC) streaming unit and Experiences (theme parks and cruise lines) segment will strengthen this year.
"Experience offers durable, recurring revenue streams to generate operating and free cash flow, even though leisure spending is sensitive to the economy," Leon wrote in a December 26 note. "In our view, DTC has turned the corner to profitable growth with healthy subscriber growth. Sports are a core franchise for live entertainment that needs advertising sponsors to offset sports rights."
Nvidia gains $122 billion in market value
While Disney was one of several Dow Jones stock to finish lower on Monday, Nvidia (NVDA) jumped 3.4% to gain $122 billion in market value amid a broader rally in semiconductor stocks. Micron Technology (MU, +10.5%), Taiwan Semiconductor (TSM, +5.5%) and Advanced Micro Devices (AMD, +3.3%) were also notable gainers today.
The rally comes ahead of CES 2025, which kicks off tomorrow and runs through the end of the week. Nvidia CEO Jensen Huang is scheduled to take the stage later today to give his outlook on artificial intelligence (AI).
"AI will likely be a key theme at the conference, with companies highlighting plans to integrate augmented capabilities across a broadening set of consumer and edge products," says BofA Securities analyst Vivek Arya. He'll also be looking for "color on the recovery timeline for automotive and industrial semiconductor end markets," as well as new growth opportunities in electric and self-driving vehicles.
At the close, the Nasdaq Composite was up 1.2% at 19,864, the S&P 500 was 0.6% higher at 5,975, and the Dow Jones Industrial Average had slipped 0.06% to 42,706.
As a reminder, the stock market will be closed on Thursday, January 9, in observance of a national day of mourning and state funeral for former President Jimmy Carter. The bond market will close at 2 pm Eastern Standard Time.
Related content
- Kiplinger's Economic Calendar for This Week (January 6-10)
- Earnings Calendar and Analysis for This Week (January 6-10)
- When Is the Next Jobs Report?
-
Gold and Silver Shine as Stocks Chop: Stock Market TodayStocks struggled in Friday's low-volume session, but the losses weren't enough to put the Santa Claus Rally at risk.
-
Don't Wait Until January: Your Year-End Health Checklist to Kickstart 2026Skip the fleeting resolutions and start the new year with a proactive plan to optimize your longevity, cognitive health, and social vitality.
-
Premium Rewards Cards: More Perks, Higher FeesSome issuers are hiking the annual fee on their flagship luxury credit cards by hundreds of dollars. Are they still worth using?
-
Gold and Silver Shine as Stocks Chop: Stock Market Today
Stocks struggled in Friday's low-volume session, but the losses weren't enough to put the Santa Claus Rally at risk.
-
How to Master the Retirement Income Trinity: Cash Flow, Longevity Risk and Tax EfficiencyRetirement income planning is essential for your peace of mind — it can help you maintain your lifestyle and ease your worries that you'll run out of money.
-
I'm an Insurance Expert: Sure, There's Always Tomorrow to Report Your Claim, But Procrastination Could Cost YouThe longer you wait to file an insurance claim, the bigger the problem could get — and the more leverage you're giving your insurer to deny it.
-
Could a Cash Balance Plan Be Your Key to a Wealthy Retirement?Cash balance plans have plenty of benefits for small-business owners. For starters, they can supercharge retirement savings and slash taxes. Should you opt in?
-
Changes Are Coming for This Invesco Bond FundThe Invesco BulletShares 2026 Corporate Bond ETF's bonds will mature in 2026. Here's what investors should do.
-
7 Retirement Planning Trends in 2025: What They Mean for Your Wealth in 2026From government shutdowns to market swings, the past 12 months have been nothing if not eventful. The key trends can help you improve your own financial plan.
-
What Defines Wealth: Soul or Silver? Good King Wenceslas' Enduring Legacy in the SnowThe tale of Good King Wenceslas shows that true wealth is built through generosity, relationships and the courage to act kindly no matter what.
-
An Investing Pro's 5 Moves to Help Ensure 2025's Banner Year in the Markets Continues to Work Hard for You in 2026After a strong 2025 in the stock market, be strategic by rebalancing, re-investing with a clear purpose and keeping a disciplined focus on your long-term goals.
