(Sharecast News) - Major indices closed higher on Monday as market participants shrugged off recent declines in the price of bitcoin and silver.
At the close, the Dow Jones Industrial Average was up 1.05% at 49,407.66, while the S&P 500 advanced 0.54% to 6,976.44 and the Nasdaq Composite saw out the session 0.56% firmer at 23,592.11.
The Dow closed 515.19 points higher on Monday, more than reversing losses recorded in the previous session after Donald Trump announced Kevin Warsh as his nominee for head of the Federal Reserve and December's PPI report showed wholesale inflation rising sharply at end of 2025.
Bitcoin slipped back below $80,000 for the first time since April over the weekend as investors pared risk following steep falls in precious metals at the end of last week. Silver, which has more than doubled over the past year, tumbled about 30% on Friday in its worst single‑day drop since 1980, while gold fell 4.75%.
However, the benchmark cryptocurrency and both metals later pared earlier declines on Monday, helping to steady equity markets and soften risk-off sentiment. Bitcoin was last seen changing hands at around $78,700, while spot gold and spot silver were down 4% and 5%, respectively.
Market participants were also tuned into tech giant Nvidia amid renewed questions over the outlook for artificial intelligence. According to the Wall Street Journal, the chipmaker's proposed $100bn investment in OpenAI has stalled, with senior executives expressing doubts over the plan.
Elsewhere in the corporate space, Walt Disney said on Monday that first quarter revenues had landed at $26bn, up 5% year-on-year and generally in line with Wall Street expectations. Meanwhile, pre-tax income was flat year-on-year at $3.7bn.
After the close, Palantir Technologies posted Q4 earnings and revenues that came in above Wall Street expectations, aided by sales to the Trump administration and US businesses. Revenues surged 70% year-on-year to $1.4bn, ahead of the $1.3bn expected by analysts, while adjusted earnings per share rose to $0.25, up from $0.14 during the previous year and ahead of the $0.23 that was projected.
On the macro front, last month's S&P Global manufacturing purchasing managers index increased to 52.4 in January, above preliminary estimates of 51.9 and up from December's five-month low of 51.8. January's reading pointed to a firmer pace of expansion in manufacturing activity, with output rising at its strongest rate since last August.
Elsewhere, the Institute for Suppyly Management's manufacturing PMI unexpectedly rose to 52.6 in January, up from 47.9 in December and ahead of forecasts of 48.5. January's reading showed economic activity in the manufacturing sector had expanded in January for the first time in 12 months, and the most since 2022, amid improvements in new orders, production, employment, supplier deliveries and inventories.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Caterpillar Inc. (CAT) $687.90 5.10%
Intel Corp. (INTC) $48.81 5.04%
Dow Chemical Co. (DOW) $28.72 4.83%
Apple Inc. (AAPL) $270.01 4.06%
Visa Inc. (V) $333.84 3.73%
Cisco Systems Inc. (CSCO) $80.64 2.96%
Merck & Co. Inc. (MRK) $113.37 2.81%
International Business Machines Corporation (CDI) (IBM) $314.73 2.62%
Johnson & Johnson (JNJ) $230.75 1.54%
Goldman Sachs Group Inc. (GS) $946.33 1.17%
Dow Jones - Fallers
Walt Disney Co. (DIS) $104.45 -7.40%
Chevron Corp. (CVX) $174.03 -1.62%
Microsoft Corp. (MSFT) $423.37 -1.61%
Salesforce.Com Inc. (CRM) $210.81 -0.70%
Unitedhealth Group Inc. (UNH) $285.59 -0.47%
Boeing Co. (BA) $233.02 -0.30%
Dowdupont Inc. (DWDP) $0.00 0.00%
Walgreens Boots Alliance, Inc. (WBA) $0.00 0.00%
Walmart Inc. (WMT) $113.56 0.00%
3M Co. (MMM) $153.43 0.18%
S&P 500 - Risers
Carnival Corp. (CCL) $32.35 8.09%
Western Digital Corp. (WDC) $270.23 7.99%
Norwegian Cruise Line Holdings Ltd (NCLH) $23.64 7.65%
Corning Inc. (GLW) $110.36 6.89%
Seagate Technology Plc (STX) $432.95 6.20%
Dxc Technology Company (DXC) $15.28 5.89%
Macy's Inc. (M) $21.19 5.84%
Micron Technology Inc. (MU) $437.80 5.52%
Caterpillar Inc. (CAT) $687.90 5.10%
Hasbro Inc (HAS) $93.84 5.07%
S&P 500 - Fallers
Walt Disney Co. (DIS) $104.45 -7.40%
ONEOK Inc. (OKE) $75.32 -4.89%
Idexx Laboratories Inc. (IDXX) $639.60 -4.60%
Humana Inc. (HUM) $187.20 -4.10%
Sl Green Realty Corp. (SLG) $43.35 -3.71%
CF Industries Holdings Inc. (CF) $89.84 -3.64%
Coterra Energy Inc. (CTRA) $27.81 -3.60%
Occidental Petroleum Corp. (OXY) $43.80 -3.50%
Gartner Inc. (IT) $202.40 -3.44%
Vornado Realty Trust (VNO) $30.90 -3.39%
Nasdaq 100 - Risers
Western Digital Corp. (WDC) $270.23 7.99%
Seagate Technology Plc (STX) $432.95 6.20%
Micron Technology Inc. (MU) $437.80 5.52%
Hasbro Inc (HAS) $93.84 5.07%
Intel Corp. (INTC) $48.81 5.04%
Expedia Group Inc. (EXPE) $276.67 4.47%
J.B. Hunt Transport Services Inc. (JBHT) $211.71 4.43%
Texas Instruments Inc (TXN) $225.01 4.39%
Apple Inc. (AAPL) $270.01 4.06%
Charter Communications Inc. (CHTR) $213.61 3.63%
Nasdaq 100 - Fallers
Idexx Laboratories Inc. (IDXX) $639.60 -4.60%
Baidu Inc. (BIDU) $148.57 -3.01%
Nvidia Corp. (NVDA) $185.61 -2.89%
Illumina Inc. (ILMN) $141.13 -2.54%
Cadence Design Systems Inc. (CDNS) $289.19 -2.42%
Intuit Inc. (INTU) $487.12 -2.37%
DENTSPLY Sirona Inc. (XRAY) $12.21 -2.09%
Tesla Inc (TSLA) $421.81 -2.00%
Microsoft Corp. (MSFT) $423.37 -1.61%
Synopsys Inc. (SNPS) $457.89 -1.55%