Key Takeaways
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The Nasdaq hit a file excessive in intraday buying and selling Monday, July 8, 2024 as tech shares gained.
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Intel shares surged after Melius Analysis advised the inventory may get a lift from synthetic intelligence within the second half of the 12 months.
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Corning shares rose after the corporate raised its steering on sturdy demand.
The Nasdaq hit a file excessive in intraday buying and selling Monday, whereas the S&P 500 and Dow have been little modified as tech shares gained.
Corning (GLW) was the best-performing inventory within the S&P 500 after the specialty glass maker raised its steering on growing demand for its optical connectivity merchandise for generative synthetic intelligence (AI) purposes.
Intel (INTC) shares surged, together with shares of AMD (AMD) after Melius Analysis analysts advised the shares may see positive aspects from AI within the second half of the 12 months.
Shares of IDEAYA Biosciences (IDYA) additionally jumped after the oncology medication agency reported constructive leads to a Part-2 trial of its therapy for some bladder and lung cancers.
Photo voltaic shares gained as Financial institution of America upgraded SolarEdge Applied sciences (SEDG), arguing the inventory is undervalued.
Devon Vitality (DVN) shares fell because the vitality agency agreed to pay $5 billion to buy privately held Grayson Mill Vitality, increasing its attain into the Williston Basin.
Paramount World (PARA) shares declined as the corporate agreed to merge with Skydance Media, bringing an finish to months of negotiations.
Oil and gold futures fell, whereas the yield on the 10-year Treasury word superior. The U.S. greenback gained on the euro, however declined versus the pound and yen. Costs for many main cryptocurrencies have been increased.
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