Dow jumps 500 points as rally accelerates Monday on the back of Apple: Live updates

McDermid, Brendan | Reuters.

Monday saw a surge in stocks as investors anticipated a potential end to the ongoing U.S. S. Inflation data and a number of high-profile earnings reports are anticipated in the days ahead, along with the government shutdown.

The Dow Jones Industrial Average increased by 543 points, or 1.2 percent, during the day. Along with the SandP 500, the Nasdaq Composite saw a 1 point 5% increase.

Apple received an upgrade to buy from hold at Loop Capital, which caused the market to rise 4%. The company announced that “we are NOW at the front end of AAPL’s long-anticipated adoption cycle that suggests ongoing iPhone shipment expansion through CY2027,” pointing to improving demand trends for the company’s iPhones. “.

The government shutdown, which is now in Day 20, “is likely to end sometime this week,” National Economic Council director Kevin Hassett told CNBC’s “Squawk Box” on Monday, supporting stocks as well. He went on to say that he thinks “moderate” Democrats will reach an agreement this week and that, should a deal not be reached, the White House is ready to take more drastic action to end the halt.

After a tumultuous trading week, stocks ended the day higher despite escalating tensions between the U.S. S. and China, where a sell-off was triggered by losses on regional bank loans as well as drops in a few prominent AI companies. However, investors’ expectations of another quarter percentage point rate cut at the Federal Reserve’s late October meeting, combined with a strong start to the third-quarter earnings season, seem to be improving sentiment.

Bank of America reports that 76 percent of the 58 S&P 500 companies that have released results so far have exceeded earnings expectations after the first week of the reporting season. This is slightly higher than the 73 percent figure from the previous quarter and far above the first-week average of 68 percent.

A number of big businesses are anticipated to release their quarterly results this week. Among the names on the table are Netflix, Coca-Cola, Tesla, and Intel. Investors anticipate continued strong earnings, which could offset any difficulties in the macroeconomic environment.

Additionally, investors kept putting aside worries about credit risks that had led to Thursday’s wider market meltdown. The market went into a panic when Zions Bancorporation and Western Alliance revealed problems related to bad loans. As a result, shares of a number of major financial institutions and local banks fell before rising again on Friday. In Monday’s session, shares of Western Alliance and Zions, which will release their earnings after the bell, increased by 3% and 4%, respectively.

Jamie Cox, managing partner at Harris Financial Group, stated, “Markets are shifting their attention from the ongoing tariff drama with China and the shutdown standoff to monetary policy and earnings, both of which are far more positive and consequential.”. “Investors would be well advised to seize the opportunity while it is still available as markets are expanding. “.

The three main U. S. . Indexes increased marginally on Friday after President Donald Trump seemed upbeat about a possible trade agreement with China before his meeting with Chinese President Xi Jinping in South Korea later this month. Trump expressed a similar view on Monday, stating that he anticipates a “fair” agreement with the nation.

Scott Bessent, the Treasury Secretary, also stated that day that he believes “things have de-escalated” with China and that he is probably going to meet with He Lifeng, the Chinese vice premier, next week. Trump’s threat of imposing an additional 100 percent tariff on Chinese imports starting in November was conveyed to traders by these remarks. One might not occur.

According to Canaccord Genuity, the “bar may be high” for significant tech earnings reports.

Canaccord Genuity stated that Big Tech companies are under pressure going into their earnings because of the market’s surge this year and all of the expenditure on artificial intelligence.

“The bar may be high for tech bellwether earnings reports this quarter, given this much market value added in such a short period of time,” analyst Michael Graham wrote in a note to clients on Monday.

According to Graham, traders will be paying close attention to these reports because of OpenAI’s recent transactions in particular.

His remarks coincide with the tech-heavy Nasdaq Composite finishing the year more than 18 percent higher, making it the index with the best performance out of the three main ones.

According to Graham, “a lot of investors are worried about how much ‘dead air’ might be underneath the market at current levels.”. “I think they’re right. “.”.

Alex Harring.

Morgan Stanley says Formula One is still a good investment following the Apple TV deal.

Morgan Stanley predicts that Apple’s five-year agreement with Formula One for exclusive streaming rights may cause short-term hardship but result in long-term benefits.

The bank restated its $110 point price target and its overweight rating for Formula One. This indicates an increase of 11% from the close on Friday.

F1 was exclusively available for streaming on ESPN. Compared to Apple’s 20 to 30 million subscribers, Morgan Stanley estimated that the sports platform reaches about 65 million households.

According to Morgan Stanley’s analysis, “At least initially, it will be difficult for Formula One to avoid a decline in viewership when switching from ESPN to Apple TV.”. The bank thinks the racing company won’t experience an immediate impact on revenue, despite future audience uncertainty surrounding Formula One. “Any sport’s exposure in the United States is at risk when ESPN is removed as a partner. Apple, a global consumer technology platform, however, offers F1 special opportunities. “.

Franco, Itzel.

Alibaba’s stock rises after the company reports an 82% reduction in Nvidia GPU usage.

Getty Images | Future Publishing | Cfoto.

Alibaba’s stock rose more than 4% on Monday following a report that said the Chinese tech giant’s new system reduced the number of Nvidia GPUs it required for its AI models by 82% over the weekend.

According to the South China Morning Post, Alibaba’s Aegaeon cloud pooling system was tested for over three months in Alibaba Cloud’s model marketplace. According to a study published this week in South Korea, Alibaba drastically reduced the quantity of Nvidia H20 chips used for dozens of AI models during this period.

“Aegaeon is the first work to reveal the excessive costs associated with serving concurrent LLM workloads on the market,” read the report, which was written by researchers from Alibaba Cloud and Peking University.

Alibaba’s new system may reduce the need for new GPU purchases by allowing multiple large language models to share AI hardware. The information arrives as U. S. . Hyperscalers are still increasing their expenditures on AI and data centers.

So far this year, Alibaba’s stock has increased by roughly 105%. This year, Nvidia shares have increased by roughly 36.7 percent.

Pia Singh.

Examine the stocks that are moving during the day.

After the iPhone 17 series outsold the iPhone 16 series in China and the United States, the Tim Cook-led company saw a 4% increase. S. . counterpoint research, and Loop Capital upgraded the stock to buy from hold, citing better-than-expected iPhone demand, within the first ten days of availability.

KLA Corporation. Following Barclays’ upgrade from equal weight to overweight, the semiconductor equipment manufacturer saw a 4% increase, citing “a relatively low bar for revenue growth ex-China and a positive long-term outlook for increased process control intensity and its exposure to Leading Edge where we expect strong growth looking ahead.”. “.”.

Cleveland— After announcing that it is considering venturing into rare earth mining, the steelmaker saw a 24 percent increase in value. “To determine if these deposits could become commercially viable, we are collaborating with the geologists,” CEO Lourenco Goncalves stated. Cleveland’s third-quarter earnings exceeded projections, revealing lower capital expenditures than anticipated and adjusted EBITDA of $143 million compared to a FactSet consensus estimate of $127.9 million.

Click here to view the complete list of stocks.

Scott Schnipper.

The U. S. . will come to a “fair” trade agreement with China, according to Trump.

On Monday, President Donald Trump stated his belief that he will be able to reach a “fair” trade agreement with Chinese President Xi Jinping.

“We’re going to have a fair deal,” the president declared at the White House accompanied by Australian Prime Minister Anthony Albanese. “I wish to treat China well. President Xi and I have a wonderful relationship. Our relationship is fantastic. “,”.

Additionally, Trump stated that he intends to travel to China “midway through the following year.”. “.

Sean Conlon.

There are twelve S&P 500 stocks that are trading at all-time highs.

Raedle, Joe | Getty Images.

Twelve S&P 500 stocks hit new all-time highs on Monday.

This milestone was reached by the following tickers.

Since the special distribution on April 2, 2014, when the non-voting share was created, Alphabet C shares have been trading at all-time highs. Trading started on April 3, 2014.

The share price of Alphabet A is at its highest level since its August IPO. January 19, 2004.

Since its NASDAQ debut in 1992, Monster Beverage (formerly Hansen Natural) has been trading at record highs.

Due to its initial public offering (IPO) in April 1995, Cencora was trading at record highs.

Since its 1996 spin-off from Corning, Quest Diagnostics has traded at record highs.

The EMCOR Group was trading at its highest levels since its founding, following the reorganization of Jamaica Water Supply after it emerged from bankruptcy in 1995.

The Apple Inc. trading at record highs since its December 1980 initial public offering.

Since its initial public offering (IPO) in September 1972, Advanced Micro Devices has been trading at record highs.

KLA Corporation is trading at its highest levels since the 1980 IPO of KLA Instruments.

Since its June 1984 IPO, Micron has been trading at all-time highs.

Since its 2007 initial public offering, TE Connectivity has been trading at record highs.

In 1972, Ameren Corporation was trading at its highest point in history.

Weyerhaeuser, CarMax, Brown & Brown, and Charter Communications were the four stocks that hit new 52-week lows.

Hayes Christopher, Kailai Han Lisa.

Bank of America has raised its price target for Alphabet.

According to Bank of America, Alphabet is continuing to build on its impressive year-to-date performance.

The bank raised its price target from $252 to $280. BofA’s revised goal suggests a gain of more than 11% from Friday’s closing price.

The bank is confident in Google’s steady growth in paid clicks as OpenAI keeps collaborating with merchants to incorporate browsing and checkout capabilities into ChatGPT. “Google Search traffic and monetization seem to remain healthy despite ChatGPT’s rapid growth, suggesting that Gen-AI usage and market opportunity is largely incremental,” BofA stated in a note.

Following the price target increase, shares were up 1%. With an increase of over 35%, the stock has been soaring this year.

— Franco Itzel.

The market rally is bucking Oracle.

There were no high-flying Oracle shares involved in Monday’s market rally.

Late morning trading saw a more than 3% decline in the software stock. Nevertheless, the Nasdaq Composite and S&P 500 both saw increases of at least 1%.

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The stock of Oracle fell below its monthly flatline on Monday. Nevertheless, the stock has risen more than 60% in 2025 as a result of the buzz surrounding its involvement in a TikTok deal and its standing as a beneficiary of the boom in artificial intelligence infrastructure.

— Alex Harring.

Gildan is downgraded by Citi.

Citing recent outperformance, Citi took Gildan off the field.

Paul Lejuez, an analyst, downgraded the apparel manufacturer from a buy to neutral. Nonetheless, Lejuez increased his price target by $3 to $63, indicating a 3–7% increase over the closing level from the previous week.

The stock has increased by about 30% this year and 20% since the completion of its acquisition of Hainesbrands, according to Lejuez.

In a note to clients on Monday, Lejuez stated, “We think the market is now pricing in a successful close to the deal, seamless integration, and synergies that are at least as much as what [management] indicated.”.

Gildan’s University… S. -listed shares saw a 0.7 percent decline on Monday, defying the market’s upward trend.

Alex Harring.

Apple joins the list of tactical outperformers from Evercore ISI.

Reuters | Kylie Cooper.

With a solid earnings report on the horizon, Evercore ISI added Apple to its tactical outperform list.

In a note to clients, the firm stated, “We believe AAPL is well positioned to report upside to upside to current Sep-qtr consensus expectations and could guide to upside for the Dec-qtr.”. “We have a positive bias because of iPhone data points that indicate this might be longer than the typical iPhone refresh cycle, given that lead times for the base iPhone 17 are longer than they were in October of last year. “..”.

The Wall Street firm maintained its $290 price target. From Friday’s close of $252.29, the forecast indicates a 15% increase.

Yun Li.

After the company emphasizes the “renewed importance” of rare earth minerals, Cleveland-Cliffs’ stock rises.

Monday’s morning trading saw a 16 percent increase in Cleveland-Cliffs shares in response to the steel manufacturer’s most recent quarterly results.

The company reported adjusted EBITDA of $143 million for the third quarter, which was more than the $127.9 million that FactSet’s poll of analysts had predicted.

President Donald Trump’s trade policies, according to CEO Lourenco Goncalves, have boosted demand for domestically produced automotive-grade steel. A. Earlier this year, Trump declared he would impose a 50% import tariff on steel.

The CEO said in a statement, “As a result of this new trade environment, we have won new and growing supply arrangements with all major automotive [original equipment manufacturers], locking in multi-year agreements that reflect the reliability of our well-established supply chains anchored by our nine galvanizing plants dedicated to automotive-grade steels, with five of these plants specialized in exposed parts.”.

Amid their “renewed importance,” Goncalves added, it will investigate growing its role in the production of rare earths. During Monday’s session, stocks of rare earths saw an increase.

He added, “The renewed significance of rare earths beyond steelmaking has prompted us to re-focus on this potential opportunity at our upstream mining assets.”. Given our geological footprint, it is our responsibility as a company to do this. Two locations in particular, one in Minnesota and one in Michigan, exhibit the greatest promise after we examined all of our ore bodies and tailings basins. “,”.

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Sean Conlon.

To begin the week, stocks are up.

On Monday morning, stocks shot up into the green.

Shortly after 9:30 a.m., the S&P 500 increased by roughly 0.7 percent. m. ET, but the Nasdaq Composite experienced a 0 point 8 percent increase. A 238-point increase, or 0.5 percent, was also made by the Dow Jones Industrial Average.

Conlon, Sean.

Among the names moving before the bell are Cleveland-Cliffs, Critical Metals, and Liberty Energy.

Monday’s premarket trading is seeing some significant movements in certain stocks.

Cleveland-Cliffs — When the steel company released its third-quarter results, shares surged 10 percent. A FactSet estimate of $127.9 million was surpassed by Cleveland-Cliffs’ adjusted EBITDA of $143 million. Additionally, the business provided guidance for capital expenditures of about $525 million for the year, which was less than the $600 million that had been previously projected.

Rare earths — The group is up after Bloomberg News revealed that, following China’s decision to restrict its exports to the United States, Australia’s prime minister intends to present his country’s resource holdings to President Donald Trump. S. . USA Rare Earth and Critical Metals saw increases of 6% and 9%, respectively, while US Antimony’s stock surged by almost 15%.

Liberty Energy — After rising more than 28% on Friday, shares increased by 5 points. Investors seemed satisfied with positive sales commentary, even though the energy services company’s third-quarter revenue fell short of analysts’ projections as surveyed by FactSet.

For the complete list, click here.

— Napolitano Liz.

TD Cowen puts Ally Financial up to date.

The NYSE.

Regarding Ally Financial, TD Cowen is leaving the sidelines.

Moshe Orenbuch, an analyst, upgraded the stock from hold to buy. In addition, Orenbuch increased his price target from $43 to $50 per share. According to his updated prediction, the stock may rise another 26% from this point.

According to Orenbuch, Ally Financial’s valuation appears “compelling” in this case because its shares have increased by 11% this year. Following Ally’s third-quarter results that outperformed the Street, the change was made. More can be read here by CNBC Pro subscribers.

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Lisa Kailai Han.

The news that Blackstone and TPG are nearing an acquisition agreement for Hologic caused its stock to rise.

NBC’s Adam Jeffrey.

After Bloomberg, citing people familiar with the situation, reported last week that Blackstone and TPG are close to reaching an agreement to buy the medical technology company for more than $17 billion, including debt, shares of Hologic surged 5% in premarket trading Monday.

According to the sources, a deal could be announced in a matter of days, and the parties are negotiating a price of more than $75 per share.

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— Sean Conlon.

Trump says after the tense Zelenskyy meeting, Ukraine should be divided.

Win McNamee | News | Getty Images.

U. A. As he seeks to end the conflict in Ukraine quickly, President Donald Trump has indicated a shift in support toward Vladimir Putin of Russia, which is likely to instill fear in Ukrainian officials.

Trump and Ukrainian President Volodymyr Zelenskyy met tensely at the White House on Friday, discussing the possible supply of U.S. A. On the agenda are Tomahawks and long-range cruise missiles.

In addition to leaving the meeting with nothing, Zelenskyy appeared to have been reprimanded by Trump, who stated that Ukraine should agree to Russia’s demands for a resolution to the conflict by ceding all of the eastern region of Donbas, which is the scene of the current conflict in Ukraine.

Trump told reporters this weekend that Donbas should be “cut the way it is.”. “.”.

He stated on Sunday aboard Air Force One that “it’s cut up right now, I think 78 percent of the land is already taken by Russia.”. “At the battle lines ., they ought to halt immediately. Return home, cease your murderous rampage, and be done. Continue reading.

— Ellyatt Holly.

This week will see the release of earnings from dozens of companies.

This week, third-quarter earnings reports are starting to pile up.

According to FactSet, S&P 500 earnings are predicted to increase by 8.4 percent from the same quarter last year. However, according to John Butters, a senior analyst at FactSet, it is likely that the broad-market index will report earnings growth of more than 13 percent for the fourth consecutive quarter.

The top companies anticipated to release their earnings this week are listed below.

On Monday: W. R. . Steel Dynamics and Berkley Corporation.

Tuesday: RTX, Texas Instruments, Danaher, Capital One, Philip Morris International, Netflix, GE Aerospace, and Coca-Cola Company.

Wednesday: Amphenol, GE Vernova, International Business Machines, Thermo Fisher Scientific, AT&T, Lam Research, Tesla, and SAP.

T-Mobile, Intel, Union Pacific, Honeywell, Blackstone, Newmont, and Norfolk Southern on Thursday.

Sanofi, Procter & Gamble, HCA Healthcare, and General Dynamics on Friday.

— Singh Pia.

U. S. . Futures for stocks open higher.

A little after six o’clock. A. ET on Sunday, futures linked to the Nasdaq-100 and S&P 500 saw gains of 0.4 and 0.3 percent, respectively. More than 0.2 percent, or 118 points, were added to futures linked to the Dow Jones Industrial Average.

Pia Singh.