Key Takeaways
- The S&P 500 fell 1.1% on Tuesday, Jan. 7, as U.S. manufacturing data reinvigorated concerns about inflation and the interest rate outlook.
- Shares of data analytics software firm Palantir lost ground for the second straight session after Morgan Stanley analysts cited valuation concerns.
- Moderna shares surged as reports of the country's first bird-flu fatality sparked interest in the biotech firm's experimental H5N1 vaccine.
Major U.S. equities indexes lost ground as the latest Purchasing Managers' Index (PMI) showed an expansion i♛n the manufacturing sector but revealed an increase in the "prices paid" index during December.
The indication of pricing pressure in the final month of 2024 could encourage a cautious stance by Federal Reserve policymakers as they weigh the appropriate timing and magnitude of additional inter♔est rate cuts this year.
The S&a⛄mp;P 500 slipped 1.1%.ℱ Underperformance in the technology sector dragged on the Nasdaq, which fell 1.9%, while the Dow ended the session 0.4% lower.
The heaviest losses in the S&P 500 hit shares of big data analytics software provider Palantir Technologies (PLTR), which dropped 7.8%. Tuesday's decline ex💛tended the losses posted in the prior session after Moꦯrgan Stanley analysts expressed their trepidation about the stock's valuation following the massive 2024 run-up that made Palantir the top performer in the benchmark index last year.
Shares of artificial intelligence (AI) semiconductor powerhouse Nvidia (NVDA) plunged 6.2% on Tuesday. Although Monday's 澳洲幸运5开奖号码历史查询:CES conference keynote speech by Nvidia CEO Jensen Huang highlighted notable advances, including new gaming chips and a self-driving partnership with carmaker Toyota (TM), analysts cited a lack of detail on Rubin, the chipmaker's next generation of graphics processing units (GPUs) being develop🦹ed as a successor to the current Blackwell platform.
Super Micro Computer (SMCI) shares sank 5.7%, reversing a portion of the strong gains achieved in the previous session as analysts speculated that Nvidia's keynote could be a catalyst for Supermicro. This week's volatility is nothing new for shares of the server maker, which saw 澳洲幸运5开奖号码历史查询:major price swings throughout 2024 as investors reacted to accounting and corporate governance issues.
Moderna (MRNA) shares logged the S&P 500's best performance on Tuesday, soaring 11.7%. The Centers for Disease Control and Prevention (CDC) reported Monday that a patient in the U.S. had died after being infected with severe avian influenza A (H5N1), the 澳洲幸运5开奖号码历史查询:country's first fatality from the virus commonly known as bird flu. Moder𝕴na is developing an experimental vaccine to prꦅotect against H5N1.
Shares of hospital operator HCA Holdings (HCA) gained 3.8% after analysts at Truist trimmed their price target on the stockꦇ but maintained their "buy" rating. The analyst team noted that, although a more cost-conscious dynamic within th🐻e government could weigh on healthcare services companies, the industry should see tailwinds from demographics, trends toward value-based care, and robust core demand.
Solar power stocks built on their hot start to 2025, becoming the latest industry to benefit from expectations for surging AI-driven power demand. The Invesco Solar ETF (TAN) was up 3% on Tuesday. Shares of panel manufacturer First Solar (FSLR) jumped 3.4%, while Enphase Energy (ENPH) shares powered 3% higher as the firm announced that its microinverters had been selected for a solar project at a radioactive waste 🦄facility in Belgium.