(Sharecast News) - Major indices were in the green early on Monday as market participants shrugged off recent declines in the price of bitcoin and precious metals.
As of 1530 GMT, the Dow Jones Industrial Average was up 0.70% at 49,232.65, while the S&P 500 advanced 0.45% to 6,970.08 and the Nasdaq Composite came out of the gate 0.59% firmer at 23,600.90.
The Dow opened 340.18 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 singleday drop since 1980, while gold fell roughly 9%.
However, the benchmark cryptocurrency and both metals later pared earlier declines on Monday, helping to steady equity markets and soften risk-off sentiment. Bitcoin as last seen changing hands at around $78,700, while spot gold and spot silver were down 3% and 6%, 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.
Still to come, Palantir Technologies was set to release its latest quarterly figures after the close.
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 Supply 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
Intel Corp. (INTC) $48.36 4.07%
Caterpillar Inc. (CAT) $678.71 3.25%
Visa Inc. (V) $331.15 2.90%
Dow Chemical Co. (DOW) $28.17 2.27%
Apple Inc. (AAPL) $264.71 2.01%
Cisco Systems Inc. (CSCO) $79.72 1.79%
Salesforce.Com Inc. (CRM) $215.69 1.60%
International Business Machines Corporation (CDI) (IBM) $310.99 1.40%
Merck & Co. Inc. (MRK) $111.73 1.32%
Johnson & Johnson (JNJ) $229.35 0.93%
Dow Jones - Fallers
Walt Disney Co. (DIS) $105.37 -6.59%
Chevron Corp. (CVX) $174.10 -1.58%
3M Co. (MMM) $151.63 -1.00%
Verizon Communications Inc. (VZ) $44.40 -0.28%
Coca-Cola Co. (KO) $74.65 -0.21%
Home Depot Inc. (HD) $373.98 -0.16%
American Express Co. (AXP) $351.82 -0.10%
Microsoft Corp. (MSFT) $430.22 -0.02%
JP Morgan Chase & Co. (JPM) $305.85 -0.01%
Nike Inc. (NKE) $61.81 -0.01%
S&P 500 - Risers
CenturyLink Inc. (LUMN) $9.48 7.43%
Seagate Technology Plc (STX) $434.47 6.57%
Western Digital Corp. (WDC) $266.08 6.33%
Advanced Micro Devices Inc. (AMD) $249.69 5.47%
Carnival Corp. (CCL) $31.60 5.28%
Corning Inc. (GLW) $108.69 5.27%
Micron Technology Inc. (MU) $434.40 4.70%
United Airlines Holdings Inc (UAL) $106.83 4.41%
Dxc Technology Company (DXC) $15.06 4.33%
Norwegian Cruise Line Holdings Ltd (NCLH) $22.88 4.19%
S&P 500 - Fallers
Walt Disney Co. (DIS) $105.34 -6.59%
Revvity, Inc. (RVTY) $103.25 -4.89%
ONEOK Inc. (OKE) $76.02 -3.86%
Robert Half Inc. (RHI) $33.29 -3.84%
Idexx Laboratories Inc. (IDXX) $647.86 -3.37%
Eog Resources Inc. (EOG) $108.70 -3.13%
Diamondback Energy Inc. (FANG) $159.00 -3.02%
Apache Corp. (APA) $25.63 -2.95%
Occidental Petroleum Corp. (OXY) $44.22 -2.50%
Resmed Inc. (RMD) $252.18 -2.47%
Nasdaq 100 - Risers
Seagate Technology Plc (STX) $434.47 6.57%
Western Digital Corp. (WDC) $266.08 6.33%
Micron Technology Inc. (MU) $434.40 4.70%
Expedia Group Inc. (EXPE) $275.77 4.13%
Intel Corp. (INTC) $48.36 4.07%
Lam Research Corp. (LRCX) $242.86 4.03%
Take-Two Interactive Software Inc. (TTWO) $227.49 3.26%
Charter Communications Inc. (CHTR) $212.32 3.01%
Microchip Technology Inc. (MCHP) $78.18 2.98%
American Airlines Group (AAL) $13.68 2.83%
Nasdaq 100 - Fallers
Idexx Laboratories Inc. (IDXX) $647.86 -3.37%
Tesla Inc (TSLA) $419.31 -2.58%
Illumina Inc. (ILMN) $141.62 -2.20%
Baidu Inc. (BIDU) $150.59 -1.69%
Kraft Heinz Co. (KHC) $23.38 -1.52%
Starbucks Corp. (SBUX) $90.83 -1.22%
Verisk Analytics Inc. (VRSK) $215.05 -1.11%
Nvidia Corp. (NVDA) $189.08 -1.07%
Meta Platforms Inc. (META) $708.82 -1.07%
Cintas Corp. (CTAS) $189.54 -0.96%
118.02 (1.15%)
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