- The Nasdaq hit a record high in intraday trading on Monday, July 8, 2024, as tech stocks gained.Intel shares surged after Melius Research suggested the stock could get a boost from artificial intelligence in the second half of the year.Corning shares rose after the company raised its guidance on strong demand.
The Nasdaq reached a record high in intraday trading Monday, while the S&P 500 and Dow saw little movement. Tech stocks led the rally, with Corning (GLW) soaring after raising its guidance on increased demand for AI-related optical connectivity products. Intel (INTC) and AMD (AMD) shares surged following positive AI-related forecasts from Melius Research analysts.
IDEAYA Biosciences (IDYA) jumped on positive Phase-2 trial results for its cancer treatment. SolarEdge Technologies (SEDG) gained as Bank of America upgraded the stock. Devon Energy (DVN) fell after announcing a $5 billion acquisition of Grayson Mill Energy.
Paramount Global (PARA) shares declined following its merger agreement with Skydance Media. Oil and gold futures dropped, the 10-year Treasury yield rose, and the U.S. dollar had mixed results against major currencies. Major cryptocurrencies mostly traded higher.
