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Stock futures are little changed after Nasdaq Composite hits all-time high: Live updates
An Hour Ago
VanEck Semiconductor ETF closes at a record as Nvidia pops
The closely watched VanEck Semiconductor ETF (SMH) leapt more than 2% on Monday to close at a record high of 235.00.
The ETF got a boost from Nvidia, which jumped about 2.5% as Wall Street anticipated the chip giant’s upcoming earnings report on Wednesday afternoon.
Ahead of the results, Baird reiterated its buy rating on the stock and raised its price target to $1,200 from $1,050. Meanwhile, tech investor Dan Niles said Nvidia is cheap heading into earnings.
It was also a solid day for fellow SMH constituents Broadcom, up 1.3%, and Qualcomm, which posted a 2% gain. Micron Technology ended Monday with a nearly 3% advance.
–Darla Mercado, Gina Francolla
2 Hours Ago
Stocks making big moves in extended trading
These are some of the stocks making notable moves after the bell:
- Palo Alto Networks — Shares dropped 8.5%. Despite beating expectations on both lines for the fiscal third quarter, current-quarter guidance came in just in line with expectations of analysts polled by LSEG.
- Peloton — Shares slipped 2.1% after the fitness company said it was refinancing. The company is putting up $275 million in convertible senior notes via a private offering.
- Keysight Technologies — Shares tumbled 2.7% on weak guidance for the current quarter. The company said to expect non-GAAP earnings per share between $1.30 and $1.36 and revenue in the range of $1.18 billion and $1.2 billion. Analysts polled by FactSet had forecast $1.45 in earnings per share and $1.21 billion in revenue.
— Alex Harring
2 Hours Ago
Ether leads crypto rally on late surge in ETF optimism
Crypto prices rallied on Monday amid a late surge in optimism around the U.S. Securities and Exchange Commission decision on spot ether exchange-traded funds applications, due this week. The previous consensus was that the funds would likely not be approved.
Ether led the crypto market, surging about 15% to about $3,500, according to Coin Metrics. Bitcoin gained more than 4%, briefly touching $70,000 at one point for the first time since April.
In regular trading, crypto-related stocks rode the wave, with Coinbase and MicroStrategy jumping 8% and 9%, respectively. Miners Marathon Digital and CleanSpark advanced 14% each.
— Tanaya Macheel
2 Hours Ago
Stock futures are near flat
Stock futures were little changed shortly after 6 p.m. ET.
Nasdaq 100 futures slipped just around 0.1%, while S&P 500 and Dow futures both moved marginally.
— Alex Harring