The stock market had Monday blues today. The week kicked off on a slow note, with news from China that the nation was banning Intel and AMD chips in its government computers. All three major indexes that saw a record high last week paused today — and slipped a little.
Donald Trump-linked DWAC soars
Shares of Trump-linked company Digital World Acquisition Corp (DWAC) soared over 36%, trading at $50.70 at the time of writing. Trump’s social media company, Truth Social, merged with Digital World Acquisition Corp, a shell company that was already listed on the Nasdaq. With its jump, DWAC was able to cover Friday’s losses. The newly combined company will trade from Tuesday on the Nasdaq under the stock symbol DJT.
AI keeps hopping
Even though the stock market started sluggishly today, AI stocks were in demand as always, spreading positive energy among investors. The AI chip maker Nvidia took a day off today after being among the stars in recent weeks. The price rose to 1.5%, trading at $957.
Super Micro Computer jumped 9.7%, hovering around $1,068. Micron Technology reached a record high by soaring over 8%, standing at $118 at the time of writing. And in a similar vein, Constellation Energy Corp saw its peak, with over 5% hike, trading at $188.50 at the time of writing.
Intel, AMD and United Airlines failed to recover
While Intel and AMD stocks that dipped in the morning tried to recover, they remained in the red zone by the end of the day. Intel and AMD were trading at $42 and $178 respectively at the time of writing. United Airlines, which had been in the red zone since the morning, couldn’t catch up, ending the day at $44.
The Dow Jones Industrial Average fell 140 points, or 0.36%, to 39,334. The S&P500 dropped 0.13%, and Nasdaq was up 0.04%.