Wall Street Opens Strong Amid AI Momentum and Holiday Week Kick-off

Market Overview - U.S. equity markets started the week positively, with major indexes showing modest gains, driven by a resurgence in AI-related stocks and optimistic sentiment ahead of the Christmas holiday [1] - The S&P 500 rose 0.4%, the Nasdaq Composite also increased by 0.4%, and the Dow Jones Industrial Average advanced 170 points, or 0.4% [2] Tech Sector Performance - The AI sector is a significant driver of market gains, with Oracle shares climbing 6.6% after news of TikTok's U.S. operations being sold to a joint venture including Oracle [3] - Nvidia shares rose 3.9% following reports of potential sales of advanced AI chips to approved customers in China, continuing to rise by 1.5% in early trading [4] - Micron Technology shares jumped 7% after strong fiscal Q1 2026 earnings, with a further increase of 3.5% in early trading [4] - Advanced Micro Devices also saw a 1% increase in early trading [4] Corporate Earnings and News - Carnival Corp. shares surged 9.8% after reporting fourth-quarter fiscal 2025 adjusted earnings that exceeded estimates [5] - FedEx shares rose 0.6% after announcing second-quarter fiscal 2026 adjusted earnings that surpassed expectations [5] - HEICO Corp. shares increased by 5.8% following strong fourth-quarter fiscal 2025 earnings [5] - Conagra Brands experienced a 2.5% decline after reporting second-quarter fiscal 2026 revenues that missed projections [6] - Uber and Lyft shares rose approximately 1.4% after announcing plans for robotaxi services in London [6] Economic Data and Market Events - Key economic data releases this week include the Core PCE Price Index, GDP estimates, and durable goods orders [7][8] - The minutes from the latest Federal Open Market Committee meeting will be released, providing insights into future interest rate adjustments [8] Commodities Market - Gold futures surged 1.6% to approximately $4,465 an ounce, while silver futures set a new record above $69.50 per ounce, driven by geopolitical risks and expectations for interest rate cuts [10] - Oil prices increased by more than 2%, with WTI futures reaching $57.90 a barrel [10]