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AI Stocks Soar as Market Surges Before Holidays
25 Nov
Summary
- Major stock indices saw significant gains early this week.
- Alphabet and Nvidia surged on positive AI developments.
- Grindr shares dropped sharply after deal talks collapsed.
Wall Street began the Thanksgiving holiday-shortened week with a robust rally, as major stock indices like the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all climbed significantly on Monday. This surge followed a period of volatility and brought the S&P 500 closer to its previous record high. The market's upward momentum was largely driven by companies involved in the artificial intelligence boom.
Alphabet, in particular, saw a notable rise of 6.3% following praise for its new Gemini AI model, contributing substantially to the S&P 500's gains. Nvidia also posted a gain of 2.1%, reflecting investor enthusiasm for AI technology. Conversely, Danish drugmaker Novo Nordisk's shares fell 5.6% after its Alzheimer's drug trial failed to show significant slowing of disease progression.
In a separate development, Grindr experienced a sharp decline of 12.1%. The company announced it was ceasing discussions with potential investors looking to acquire it, citing questions about financing. U.S. stock markets are set for a shortened trading session on Friday following the Thanksgiving holiday on Thursday.
