American Airlines, Arista Networks, Nvidia, Advanced Micro Devices and Fortinet were the top S&P 500 index gainers on the stock market today. Boeing, SLB. Baker Hughes, Marathon Oil and CF Industries were the S&P 500's biggest losers on Monday.
S&P 500 Winners
AAL stock jumped 7.2% to 14.58, clearing the 200-day line. American Airlines doesn't operate any Boeing 737 Max 9 jets, while lower crude oil prices are a positive for jet-fuel costs.
ANET stock rallied 6.5% to 256.85, rebounding from the 21-day line to hit a record high. Shares cleared a 230.92 buy point from a three-weeks-tight pattern, offering an add-on entry for existing holders. Melius Research upgraded the networking giant to buy with a 300 price target, citing AI growth.
Nvidia stock ran up 6.4% to 522.63, hitting a record high. Shares cleared a 505.48 flat-base buy point and a range going back to late August. On Monday, Nvidia debuted new GPUs and software for generative AI applications on PCs.
AMD leapt 5.5% to 146.18, continuing a rebound from the 21-day line late last week. On the eve of the CES 2024 tech event in Las Vegas, AMD unveiled new desktop processors, rounding out its lineup for high-end AI PCs.
Also, Melius Research upgraded the chipmaker to buy, citing strong AI prospects.
FTNT stock climbed 5% to 61.28, hitting its best levels since September. But the cybersecurity giant remains below its 200-day line.
HPE Near $13 Billion Deal To Boost AI
S&P 500 Losers
Boeing stock gapped down 8% to 229, well below a 243.10 cup-base buy point. BA stock did find some support at the 50-day line. The FAA grounded many Boeing 737 Max 9 jets on Saturday after an Alaska Air Max 9 lost some fuselage midflight on Friday.
SLB stock retreated 3%, while fellow oil services giant Baker Hughes lost 2.9%. Oil and gas producer MRO sank 2.7%. The three are below all their moving averages. Crude oil futures tumbled 4.1% on Monday as Saudi Arabia cut February selling prices.
CF stock fell 2.4% to 79.19, but found support at the 500-day line.
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