In a bustling day on Wall Street, multiple stocks reached remarkable milestones, with noteworthy increases in significant sectors including technology and energy, as market participants geared up for Tuesday’s trading session.
Leading the charge was Nvidia, which set another all-time high by announcing a monumental $100 billion investment alongside OpenAI aimed at establishing and deploying at least 10 gigawatts of AI data centers. This ambitious project amounts to ten times the energy utilized by New York City on its hottest days. Shares of Nvidia soared, closing at $183.61, more than double the price from earlier this year when it traded around $86.
Energy stocks also showcased exceptional performance, particularly Vistra, which saw its shares rise to new highs, reflecting a stellar 102% growth over the past year. In September alone, Vistra surged 15%. Meanwhile, Constellation Energy increased by 5% and is nearing its all-time peak, while utility provider NRG also enjoyed a 4% uptick, marking a 17% increase for the month.
On the data center front, Iron Mountain experienced a 4.6% rise but remains 20% below its October high. The Global X Data Center ETF gained 2.3%, reaching a new high, while Digital Realty Trust climbed 1.5%, being 12% short of its peak. Other data center ETFs also showed positive trends, maintaining a near-high performance despite minor fluctuations.
In the financial sector, the Bank of New York Mellon achieved an all-time high, with shares increasing nearly 7% within the last month. Citigroup returned to levels not seen since November of 2008, boasting a remarkable 47% gain year-to-date.
Jim Cramer made a notable addition to the charitable trust by including Boeing, which recently saw a dip of nearly 8% over the last month but remains about 20% higher year-to-date. He expressed confidence in the company’s production ramp-up and noted significant overseas aircraft purchases.
On the cryptocurrency front, CleanSpark, a bitcoin miner advocating for clean energy, expanded its capital strategy through an increased Bitcoin-backed credit facility with Coinbase Prime, resulting in a 5% rise in shares. Despite this, the broader crypto market faced pressure, with Bitcoin, Ether, and Solana experiencing losses of 2.4%, 7%, and 7% respectively. Analysts indicated that the downturn may stem from investor sell-offs following a recent uptrend in companies integrating cryptocurrency into their strategies.
Looking ahead, AutoZone is expected to report in the morning, having gained 13% since its previous quarterly results, while Micron’s afternoon report follows a 33% uptick in its stock since last reporting. Palantir, which recently entered the S&P 500, has seen an astonishing 382% increase since its listing and is nearly double its value from six months ago, garnering significant attention as traders speculate on its next moves.
As the market prepares for another trading day, investors are keeping a close watch on these dynamic shifts across various sectors, anticipating continued volatility and potential investment opportunities.
