Keep pulling the thread on Closing Bell.
Semiconductor stocks reached record closes, with Qualcomm rising 8.5%, Micron up 6.5%, Intel gaining 3.6%, and the Philadelphia Semiconductor Index increasing by 2.6%.
The CEO of Qualcomm has suggested that the smartphone era may be nearing its end, as major AI companies are developing next-generation wearable devices powered by advanced AI agents.
Monday.com raised its full-year forecast for both revenue and adjusted operating profits.
The White House plans to temporarily cut beef import tariffs in an effort to lower prices, according to The Wall Street Journal.
Hims & Hers Health cut its full-year adjusted EBITDA forecast to a range of $275 million to $350 million.
WTI and Brent crude oil futures for June and July rose by 3% on Monday amid ongoing challenges in the Strait of Hormuz.
The S&P 500 experienced a narrow rally, with the majority of its constituent stocks declining, but the index was lifted by gains in NVIDIA, Tesla, and Qualcomm.
The energy sector was the top performer on Monday, gaining approximately 2%, while the communication services sector was the worst performer, declining by about 2%.
Intel is reportedly in talks with South Korean chip maker SK Hynix to provide chip packaging technology for integrating high-bandwidth memory and logic chips, according to ZDNet Korea.
Apple and Intel reached an early chip-making agreement last week, according to a report from The Wall Street Journal.
Shares of ad tech company The Trade Desk fell 6.8% after an analyst at HSBC downgraded the stock to 'reduce' from 'hold'.
Shares of Sally Beauty Holdings had their worst intraday performance since 2023 after the company's outlook raised investor concerns.