Wall Street stock markets rebounded on Monday, led by a surge in tech stocks, but gains were somewhat tempered by uncertainties surrounding President-elect Trump's trade policies.
Wall Street indexes were buoyed by a broader rally in tech stocks on Monday, which helped them recoup some of their losses from late-December and early-January. Nvidia stock gained over 2% Tuesday, following an over 3% rally during the prior session, when the stock briefly hit a record high.
At CES 2025, a major annual tech conference in Las Vegas, CEO Jensen Huang laid out how the world's second-most valuable firm is bringing technology that powers its lucrative data center AI chips to consumer PCs and laptops. Nvidia gained around $2 trillion in market capitalization through 2024, as the company further cemented its position as the premiere maker of advanced AI chips. The company also acts as a bellwether for the broader tech sector, given its prevalence in the fast-growing AI industry. Meta stock fell 0.3% after the Facebook-parent said it would end its current third-party fact-checking program in the United States and instead begin moving to a 'Community Notes' program similar to that on social media platform X. Microsoft stock rose 0.4% after the software giant announced plans to spend $3 billion to expand its Azure cloud and artificial intelligence capacity in India. Beyond tech, gains in stock markets were somewhat tempered by U.S. President-elect Donald Trump denying media reports that his administration will pursue a less aggressive tariff regime than previously feared. Trump denied a Washington Post report that his administration will only target certain sectors in imposing trade tariffs, instead of the broad tariffs promised by Trump during his campaigning. Uncertainty over Trump’s policies had also weighed on Wall Street in the beginning of the year, given that he is widely expected to enact expansionary and protectionist policies that could underpin inflation and disrupt global trade. The jobs report for November, as the focus turns to the labor market and what it is saying about the strength of the US econom
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