4:12pm: Dow Jones gains
US stocks finished Monday’s session mixed as investors navigated economic uncertainty and eyed upcoming earnings reports.
The Dow Jones added 0.3% at 43,565 points while the Nasdaq slumped 0.7% at 19,393 points and the S&P 500 slipped 0.1% at 6,005 points.
3:01pm: Stocks on the move
Nike shares gained 5.1% at about $80 on Monday afternoon after Jefferies analysts upgraded the company to a ‘Buy’ rating and boosted their price target to $115.
The analysts previously had a ‘Hold’ rating and a $75 price target on the athletic apparel and footwear brand.
They believe the company’s CEO Elliott Hill is tackling the company’s product and distribution challenges head one, positioning Nike to again outgrow the market and regain lost share.
On the opposite end, Rivian Automotive Inc (NASDAQ:RIVN) shares slumped more than 7% after the electric vehicle maker was downgraded by Bank of America analysts.
They downgraded Rivian to “Underperform” from “Neutral” and awarded it a $10 price target, down from $13.
Rivian’s 2025 outlook was softer than expected, projecting an adjusted EBITDA loss of $1.7 billion to $1.9 billion compared to the consensus of a $1.7 billion loss.
1:10pm: Dow ahead
US stocks were mixed by early afternoon on Monday, with the Dow and S&P 500 inching higher while the Nasdaq retreated as weakness in technology stocks persisted.
The Dow rose 0.5%, rebounding from recent losses as investors responded positively to an upgrade of Nike by Jefferies. The athletic apparel giant’s gains helped lift sentiment in the blue-chip index.
The S&P 500 edged up 0.2%, reflecting modest upward momentum amid broader market caution. Investors remain wary of volatility, particularly in the technology sector, which has struggled to sustain early gains.
The Nasdaq dipped 0.3%, weighed down by continued declines in tech shares. Concerns over earnings growth and economic uncertainty have pressured the sector, dragging the index lower despite initial strength.
11:42am: Oil prices under pressure
Oil prices also dropped nearly 3% on Friday, touching a new low for the year.
"The US oil market is currently in contango… a sign that the market remains bearish on oil in the short term," XTB's Kathleen Brooks said.
Bank of America expects Brent crude oil prices to remain under pressure, averaging $75/bbl in 2024 and $73/bbl in 2026, as global oil inventories stay low despite steady supply-demand balances and ample OPEC+ spare capacity (~5mn b/d).
Over the medium term (2025-2030), Brent is projected to average $60-80/bbl, as oil demand slows from 2.3mn b/d in 2023 to 1.1mn b/d in 2024-25, with long-term growth constrained by EV adoption.
10:25am: Week ahead
Markets enter the week on edge after last week's selloff as investors look to Nvidia’s earnings and key inflation data to gauge sentiment.
Nvidia’s earnings on Wednesday are a key test for AI stocks, with investors focusing on CEO Jensen Huang’s outlook as the company faces competition from China’s DeepSeek AI.
Meanwhile, inflation data from the US and Europe, including Friday’s PCE report—the Fed’s preferred inflation measure—will shape market expectations. A hotter-than-expected reading could reinforce stagflation fears.
Key economic reports, including consumer confidence, durable goods orders, and Q4 GDP revisions, are also due this week.
9.43am: Brighter start on Wall Street
Wall Street was in brighter spirits as the new trading week got underway, with stocks partially regaining after coming under pressure on fears around tariffs last week.
The Nasdaq added 0.3% at the open, while the S&P 500 also gained 0.3% and the Dow Jones ticked up 0.2%.
Each had succumbed to heavy selling last Friday as concerns around renewed inflationary pressure and lower growth on the back of Donald Trump’s tariffs weighed.
Though inflation is set to remain in the spotlight this week ahead of Friday’s personal consumption expenditures figures, Nvidia Corp earnings on Wednesday also loom.
Shares in the chip-making giant got off to a positive start to the week, ticking up 1.9% to place it behind Nike Inc among the Dow’s biggest risers.
Nike, having been granted an upgrade to a ‘buy’ rating by Jefferies, surged 4.2% early on.
Elsewhere, Domino’s Pizza Inc shed 5.0% after underwhelming with fourth-quarter figures, while Palantir Technologies Inc and PDD Holdings Inc were also among those lower.
6.53am: Stocks set for partial recovery
Wall Street appeared on course for a better start to the new week, after Friday saw lingering fears around the impact of Donald Trump’s tariffs hammer stocks.
Futures showed the Dow Jones up 0.8% ahead of the opening bell, after the index gave up 1.7% in the final session of last week.
The S&P 500 and Nasdaq were seen 0.6% and 0.5% higher in the meantime, having each also faced heavy selling late last week.
Having hung over Wall Street last week, Scope Markets analyst Joshua Mahony noted inflation was set to remain top of the agenda over the coming days.
“Tariff fears appear to be playing a role in driving up goods inflation before they are even implemented,” he said.
Friday will bring core personal consumption expenditures and the Federal Reserve’s preferred measure of inflation, after central bankers signalled caution over interest rate cuts ahead in response to tariff talk.