Broadcom Micron Technology Supermicro Ford Ford Ford More

The Key Takeaways

• Nasdaq reached a new high on Monday, as the tech sector gained momentum ahead of a Federal Reserve decision expected later in this week.
• Micron Technology’s shares rose on the optimism surrounding its quarterly earnings report on Wednesday.
• Super Micro Computer shares tumbled in the wake of Friday's announcement the stock will be removed from the Nasdaq 100 Index and reports the server maker is looking for ways to raise capital.

Nasdaq rose to new highs intraday on Monday. Tech stocks increased ahead of the Federal Reserve’s expected interest rate decision later in this week. The S&P 500 also rose, while the Dow was little changed.

Micron Technology (MU) led gains on the Nasdaq and S&P 500 on optimism about its earnings report due after the market closes Wednesday.

Broadcom shares (AVGO) surged again to a record high after the firm’s better than expected earnings were announced last week. Analysts at Bernstein called this a “record-breaking” performance. “top pick” Nvidia, the leader in artificial intelligence (AI), is a great example.

Bitcoin continued to set records, which helped MicroStrategy MSTR (the largest corporate investor in digital currency) increase its shares. It is expected that the company will join Nasdaq 100 Index.

Honeywell International’s (HON), a maker of aeronautics, safety, building, and other products, said that it was considering spin-off its aerospace business.

Super Micro Computer (SMCI) was the worst-performing stock in the S&P 500 in the wake of Friday’s announcement the stock will be removed from the Nasdaq 100 Index and reports the server maker is looking for ways to raise capital.

Ford Motor shares (F) fell after Jefferies downgraded the stock citing inventory issues.

The price of oil and gold dropped. The 10-year Treasury yield was little altered. The U.S. currency gained ground against the yen and euro but lost to the British pound.

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