03.11.202515:49:54UTC+00US Stocks Mixed

On Monday, U.S. stocks largely relinquished their earlier advances. The S&P 500 hovered near its opening level, the Dow Jones Industrial Average declined by more than 300 points, and the Nasdaq Composite inched up by 0.2%. Continued enthusiasm for artificial intelligence bolstered technology and consumer discretionary sectors. Notably, Nvidia rose by 2.8%, and Microsoft edged up 0.4% after confirming that it obtained export licenses to supply Nvidia chips to the United Arab Emirates. Amazon surged over 5% following the announcement of a multi-year, $38 billion collaboration with OpenAI. Conversely, the materials and real estate sectors underperformed, with Apple declining by 1%, Oracle by 2.4%, and JPMorgan by 1%. Kimberly-Clark plummeted by 12.9%, marking one of the poorest showings in the S&P 500 after unveiling a $48 billion acquisition deal for Kenvue, the latter's shares skyrocketing by over 15% in response. Additionally, corporate earnings remained a focal point, with Palantir Technologies gaining 1% ahead of its quarterly earnings announcement set for release after the market close.