S&P 500 Gains and Losses Today: Tesla Stock Boosted by AI, Self-Driving Optimism

Market Overview - The S&P 500 increased by 0.4% on December 16, driven by gains in technology stocks ahead of the Federal Reserve's interest-rate announcement [1][2] - Major U.S. equity indexes showed mixed performance as traders anticipated a potential reduction in borrowing costs by the Federal Reserve [2][3] Company Highlights - Broadcom's stock surged by 11.2% following a strong quarterly earnings report, highlighting robust AI sales, and was named a top semiconductor pick by Bernstein analysts [4] - Tesla's shares rose by 6.1% to an all-time high, with analysts estimating the potential value of its full self-driving and AI technology at $1 trillion [5] - Micron Technology's stock jumped 5.6% ahead of its quarterly results, with expectations of strong year-over-year growth and recent federal grants of approximately $6 billion under the CHIPS Act [6] - Super Micro Computer's shares fell by 8.3% after being removed from the Nasdaq 100 and reports of a potential capital raise [7] - CVS Health's shares declined by 5.6% following comments from President-elect Donald Trump regarding the elimination of middlemen in prescription drug pricing [8] Sector Performance - The communication and technology sectors contributed to a 1.2% gain for the Nasdaq, which reached a record closing high [3] - Crude oil prices decreased due to disappointing consumer spending data from China, impacting oil and gas stocks, with Phillips 66 and Marathon Petroleum shares falling by 5.2% and 5.1%, respectively [9]