Saturday, June 21, 2025

Tech Stocks Lead Wall Street Surge: NVIDIA, Tesla Push Markets Higher

The New York stock market rallied on January 6, led by tech stocks, particularly the semiconductor sector. The Dow Jones Industrial Average closed slightly lower. / UPI Yonhap
The New York stock market rallied on January 6, led by tech stocks, particularly the semiconductor sector. The Dow Jones Industrial Average closed slightly lower. / UPI Yonhap

On Monday, the New York stock market saw a rise led by semiconductors such as NVIDIA.

The Dow Jones Industrial Average, comprising 30 major blue-chip stocks, ended marginally down, while both the S&P 500 and Nasdaq extended their rising trends for a second consecutive day.

The robust quarterly earnings report of Foxconn, the Taiwan-based Apple supplier,r fueled the market’s upward momentum. The report showed significant revenue growth due to strong performance in AI servers and networking divisions, sparking a global rally in semiconductor stocks.

Meanwhile, Tesla joined the upward trend towards the end of the session, pushing all M7 big tech stocks into positive territory.

Bullish Trend for Two Consecutive Days

The market showed strength except for the Dow.

The Dow’s slight decline was attributed to significant losses in Honeywell (down 2.1%), Nike (down 1.8%), and Procter & Gamble (down 2.7%).

The Dow closed at 42,706.56, down by 25.57 points or 0.06%.

In contrast, tech stocks propelled the Nasdaq and S&P 500 higher for the second consecutive session.

The tech-heavy Nasdaq surged 243.30 points, or 1.24%, to 19,864.98. The S&P 500, which includes large-cap and tech stocks, climbed 32.91 points, or 0.55%, to 5,975.38.

Semiconductors Surge

Foxconn’s 15% jump in quarterly revenue, driven by robust performance in its cloud and network equipment segments, ignited a global rally in semiconductor stocks.

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest company, saw its stock soar 4.65% to 1,125.00 New Taiwan dollars. South Korea’s SK Hynix experienced an even more dramatic surge, jumping 9.84% to 199,800 won.

Dutch semiconductor equipment manufacturer ASML Holding rose by 59.80 euros (8.69%) to 747.80 euros, while Germany’s Infineon Technologies gained 2.28 euros (7.34%) to close at 33.28 euros.

French semiconductor company STMicroelectronics also left climbed 1.85 euros (7.86%) to 25.32 euros.

U.S. semiconductor stocks also saw significant gains.

NVIDIA shares jumped $4.96 (3.43%) to $149.43, hitting a two-month high since November last year. During the day, NVIDIA’s stock briefly surpassed $150, pushing its market cap to $3.7 trillion, making it the top-ranked company along with Apple. At the close, NVIDIA’s market value stood at $3.66 trillion, still behind Apple’s $3.7 trillion.

Advanced Micro Devices (AMD) rose $4.18 (3.33%) to $129.55, while custom AI semiconductor company Broadcom gained $3.86 (1.66%) to close at $236.41.

Micron Technology, a key supplier of high-bandwidth memory chips for NVIDIA’s AI processors, surged $9.39 (10.45%) to $99.26.

Despite the day’s impressive gains, Micron’s stock fell by 1.4% over the past year, showing weak long-term performance.

Tesla’s Last Rebound

A late push from Tesla ensured all M7 big tech stocks finished in the green.

Tesla saw a $0.61 (0.15%) gain to close at $411.05.

Apple’s stock rose by $1.64 (0.67%) to $245.00, while Microsoft’s climbed $4.50 (1.06%) to $427.85.

Alphabet surged by %5.08 (2.65%) to close at $196.87, and Amazon rose $3.42 (1.53%) to finish at $227.61.

Meta Platforms was the standout performer, surging $25.57 (4.23%) to $630.20, nearing its all-time high of $632set on December 11.

FuboTV Skyrockets 250%

FuboTV, a sports-focused online streaming company, soared over 250% following news of a streaming partnership with Walt Disney.

Despite Disney’s 70% stake in the joint venture, the decision to retain the Fubo brand name and management structure sent the stock into overdrive.

Both companies will maintain their existing streaming services alongside the new venture.

Buoyed by Disney’s backing, FuboTV’s stock price skyrocketed $3.62 (251.39%) to close at $5.06.

Oil Prices Retreat After Six Days

Global oil prices snapped a six-day winning streak, marking their first decline since December 27.

Analysts attributed the decline to profit-taking activities following the recent upward trend.

Brent crude, the international benchmark, settled at $76.30 per barrel, down $0.21 (0.27%) from the previous session.

U.S. benchmark West Texas Intermediate (WTI) crude also declined, with the February contract falling $0.40 (0.54%) to close at $73.56 per barrel.

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