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?
-
6 Champagne Problems Successful Retirees FaceWhat do you do if your biggest financial threat is simply having too much of a good thing — money?
-
Congress is Set for a Busy WinterThe Kiplinger Letter The Letter editors review the bills Congress will decide on this year. The government funding bill is paramount, but other issues vie for lawmakers’ attention.
-
A Portfolio Checklist If You're Planning to Retire in 2027Are you planning on retiring in 2027? This portfolio checklist will help put you on the right path.
-
A Portfolio Checklist If You're Planning to Retire in 2027
Are you planning on retiring in 2027? This portfolio checklist will help put you on the right path.
-
How to Avoid Being Buried by the Tax Avalanche in Retirement: Tips From a Wealth AdviserAll that cash you have in tax-deferred accounts could launch you into a higher tax bracket when you start withdrawals. It's time to protect your income.
-
I'm a Financial Adviser: This Is the Real Secret to Retirement SuccessFor real retirement security, forget about chasing returns and focus instead on the things you can control: income, taxes, risk-taking and decision-making.
-
Is Your Retirement Plan Based on Social Security Fact or Fiction?One in two Americans don't know much about Social Security — and some are basing their retirement on mistaken beliefs. It's time to separate fact from fiction.
-
Are You Investing to Score Points or Make Money? Cautionary Tales From an Investment AdviserHave you become numb to risk? Is your brokerage app or website fueling your desire to trade? An investment adviser explains why it always pays to be cautious.
-
Are You Overlooking These 5 Investment Opportunities in 2026?As investors game-plan for the year ahead, these five areas of the equity markets deserve their attention.
-
Are Roth Conversions for Retirees Dead in 2026 Because of the New Tax Law?The OBBBA's permanent lower tax rates removed the urgency for Roth conversions. Retirees thinking of stopping or blindly continuing them should do this instead.
-
Worried About Retirement? 4 Tasks to Calm Your Nerves and Build Confidence, From a Retirement ProIf you're feeling shaky about your finances as you approach retirement, here are four tasks to complete that will help you focus and steady your nerves.
