Stocks closed mixed Monday. Negative sessions for mega-cap stocks Meta Platforms (META. -2.3%) and Microsoft (MSFT, -1.0%) kept pressure on the Nasdaq Composite and the S&P 500, while a big gain for Nike (NKE, +4.9%) allowed the Dow Jones Industrial Average to close in the green.
By the numbers, the Nasdaq slumped 1.2% to 19,286, the S&P 500 fell 0.5% to 5,983, and the Dow Jones Industrial Average added 0.08% to 43,461.
Meta's share price on Monday was hit by reports the social media company could face anti-competitive fines from South Africa's Competition Commission. Microsoft fell after TD Cowen said the tech giant had canceled leases for some U.S.-based data centers.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Nike, meanwhile, got a lift after Jefferies analyst Randal Konik upgraded the athletic apparel and footwear maker to Buy from Hold and called it a top stock pick.
The company's new CEO, Elliott Hill, who took over the role in October, "is tackling product and distribution issues head-on, positioning the brand to again outgrow the market and take back lost share," Konik says.
He adds that surveys indicate the Nike brand "remains very strong, proving that issues were self-inflicted and competitive threats less severe."
Apple unveils $500 billion investment plan
Apple (AAPL) was another Dow Jones stock that finished in the green, adding 0.6% after the iPhone maker committed to spending $500 billion over the next four years on investments in the United States and adding 20,000 new hires.
"From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we're thrilled to expand our support for American manufacturing," said Apple CEO Tim Cook in a press release.
The money will also be used toward Apple Intelligence infrastructure and data centers and Apple TV+ productions in 20 states, according to the company.
CFRA Research analyst Angelo Zino calls the headline number "deceptive" as it includes all spending, including operating expenses and capital expenditures. Additionally, it won't circumvent Trump tariffs on China.
However, Zino notes that "AAPL made a similar announcement during Trump's first tenure," so at the very least, it will "put the company in the good graces of the new administration should exemptions be on the table."
Nvidia falls ahead of earnings
Elsewhere, Nvidia (NVDA) shed 3.1% ahead of the chipmaker's highly anticipated fiscal fourth-quarter earnings report, set to be released after Wednesday's close. Make sure to follow along with our Nvidia earnings live blog.
John Belton, portfolio manager at Gabelli Funds, says this print will provide "more clarity on the early launch of Blackwell – how it's going and what demand looks like." He adds that results from mega-cap companies "painted a positive picture for Nvidia's customer base and demand outlook" over the next year.
Belton believes that Nvidia's total revenue is the most important performance metric, "as it will indicate how strong demand has been for older-generation Hopper products."
Analysts expect Nvidia to report fiscal Q4 revenue of $38.1 billion, up 72.5% year over year.
Related content
- Best Investments to Sidestep a Trade War
- Sherwin-Williams Is a Sleeper of the 100,000% Return Club
- How to Invest in the Nuclear Revolution
-
Should You Get Earthquake Insurance?Standard home insurance doesn’t cover earthquakes, but paying extra for earthquake insurance isn’t just for Californians.
-
Stock Market Today: Dow Drops 699 Points After Powell SpeechFed Chair Powell warned of a slowing economy and higher inflation but said the central bank isn't ready to cut rates just yet.
-
Stock Market Today: Dow Drops 699 Points After Powell Speech
Fed Chair Powell warned of a slowing economy and higher inflation but said the central bank isn't ready to cut rates just yet.
-
I Have $20,000 to Invest. What Should I Do?We asked a financial expert to weigh in on where to invest $20,000.
-
How to Protect Your Privacy While Using AIHow to keep your information and finances safe while using AI, including ChatGPT and Perplexity.
-
How Much Will Car Prices Go Up With Tariffs?Tariffs could drive car prices up even higher, for new and used cars, as well as for American brands.
-
A QLAC Does So Much More Than Simply Defer TaxesHere are the multiple ways you can use a QLAC, from managing retirement risks to creating income for specific retirement needs and wants.
-
Self-Directed Brokerage Accounts: Retirement's Hidden Gem?SDBAs are often overlooked, but they can offer more flexibility and growth potential inside your 401(k) when actively managed by a professional.
-
Early-Stage Startup Deals: How Does a SAFE Work?Investing in an early-stage startup can get complicated fast, so the venture capital industry turns to other investing options. One is a SAFE.
-
Stock Market Today: Stocks Struggle Amid Tariff UncertaintyBoeing dropped after China suspended new aircraft orders, while Bank of America and Citi climbed on earnings beats.
