The S&P 500 kicked off the trading week with a 0.4% gain, as investors eagerly awaited Nvidia’s highly anticipated earnings report. Supermicro shares rebounded after the server maker announced plans to submit a report to avoid delisting from the Nasdaq. However, shares of Uber and Lyft declined amid reports that the incoming administration may relax rules on self-driving vehicles, potentially disrupting the ride-hailing industry.
Elsewhere, earnings season continued with Walmart, Target, and other major companies set to report results. Investors will also monitor key economic data on the housing market, manufacturing, and consumer sentiment. Notable stock movements included Henry Schein’s jump after an activist investor pushed for changes, and Moderna’s rise following an HSBC upgrade. CVS Health also added new board members in a deal with activist investor Glenview Capital.
On the downside, Amentum shares plummeted due to integration risks following its merger, while Palantir Technologies declined after its CEO sold a significant number of shares, raising concerns about the company’s outlook. The potential for more relaxed regulations on autonomous vehicles weighed on Uber and Lyft, potentially benefiting Tesla’s robotaxi plans.
