Nasdaq Hits New High as Nvidia Fuels Tech Surge; Bitcoin Surpasses $112K

Major Market Movements: S&P 500 Highlights
Key Advancers in the S&P 500
AES Corp. Surges on Acquisition Speculation
Shares of AES Corp. (AES) experienced a remarkable increase of 19.8% after news broke that the energy company is considering a potential sale. Major infrastructure investors, including BlackRock’s Global Infrastructure Partners, are reportedly assessing the opportunity to acquire AES, which has seen its stock price decline over recent years. The company is involved in generating energy through various renewable sources, including hydro, wind, and solar, and has established partnerships with tech firms to supply renewable energy for data centers.
- Key Advancers in the S&P 500
- AES Corp. Surges on Acquisition Speculation
- PTC Inc. Rises Amid Takeover Talks
- Bitcoin Reaches New Heights
- Housing Stocks Gain from Fed Insights
- Boeing’s Positive Delivery Report
- Notable Decliners in the S&P 500
- Fair Isaac Faces Stock Decline
- Hershey’s Stock Drops After CEO Announcement
- Monster Beverage Downgraded
- Nvidia Hits $4 Trillion Market Cap
- Nvidia’s Record-Breaking Achievement
- Technical Analysis Insights
- Bitcoin’s Resurgence
- Bitcoin’s New Record
- Future Outlook for Bitcoin
- Kellogg’s Stock Rises on Acquisition News
- Potential Deal with Ferrero
- UnitedHealth’s Stock Decline Amid Investigation
- DOJ Probe Affects UnitedHealth
- Conclusion
PTC Inc. Rises Amid Takeover Talks
Engineering software company PTC Inc. (PTC) saw its stock climb by 17.7% following reports of a possible acquisition by Autodesk (ADSK), a competitor in the design software market. This news positively impacted PTC’s shares, while Autodesk’s stock fell by 2.4%.
Bitcoin Reaches New Heights
In the cryptocurrency market, Bitcoin reached an all-time high of approximately $112,000, fueled by optimism regarding a favorable regulatory environment for cryptocurrencies in the U.S. Shares of Coinbase Global (COIN), the leading U.S. crypto exchange, rose by 5.4%, contributing to a significant increase of over 50% in its stock value since the beginning of the year.
Housing Stocks Gain from Fed Insights
Recent minutes from the Federal Open Market Committee indicated that policymakers expect moderate inflationary pressures from tariffs and foresee potential interest rate cuts in 2025. This outlook boosted housing-related stocks, with D.R. Horton (DHI) shares increasing by 5.4%. Other homebuilders, including Lennar (LEN) and PulteGroup (PHM), also saw gains of around 4.5%.
Boeing’s Positive Delivery Report
Boeing (BA) shares rose by 3.7% after the company announced it delivered 150 commercial jets in the second quarter, surpassing last year’s figures and analyst expectations. The company also exceeded delivery forecasts for its defense segment.
Notable Decliners in the S&P 500
Fair Isaac Faces Stock Decline
Fair Isaac (FICO) shares fell by 6.5%, marking the second consecutive day of losses. This decline follows comments from Bill Pulte, director of the Federal Housing Finance Agency, regarding the use of the VantageScore system for evaluating mortgage borrowers, which competes with Fair Isaac’s credit scoring system.
Hershey’s Stock Drops After CEO Announcement
Hershey (HSY) shares decreased by 4.7% after the company announced the appointment of Kirk Tanner, currently the CEO of Wendy’s (WEN), as its new leader. Tanner will take over from retiring CEO Michele Buck next month.
Monster Beverage Downgraded
Monster Beverage (MNST) shares fell by 3.3% after analysts at Rothschild & Co Redburn downgraded the stock to “neutral” from “buy,” citing concerns that tariffs on aluminum imports could negatively impact the company’s performance.
Nvidia Hits $4 Trillion Market Cap
Nvidia’s Record-Breaking Achievement
Nvidia (NVDA) made headlines as it became the first company to achieve a market capitalization of $4 trillion. The stock has surged by 88% since early April and is up 20% year-to-date, driven by expectations of continued demand for its products from major tech companies expanding their AI capabilities.
Technical Analysis Insights
Nvidia’s stock closed nearly 2% higher at around $163, with analysts noting a bullish momentum indicated by the relative strength index. Key support levels to watch are around $130 and $97, while the stock could potentially reach an upside target of $300 by late December.
Bitcoin’s Resurgence
Bitcoin’s New Record
Bitcoin’s price surged past $112,000, marking its first record since May. The cryptocurrency has gained approximately 20% this year, recovering from a dip below $100,000 in late June. The surge was accompanied by significant liquidations of short positions in the market.
Future Outlook for Bitcoin
Industry experts anticipate that companies will increasingly adopt Bitcoin as a reserve asset in the latter half of 2025. Despite hopes for a U.S. government strategic Bitcoin reserve, the likelihood of this happening has diminished this year.
Kellogg’s Stock Rises on Acquisition News
Potential Deal with Ferrero
Shares of WK Kellogg (KLG) soared by 50% in after-hours trading following reports of a potential acquisition by Ferrero, valued at approximately $3 billion. The deal could be finalized soon, as Kellogg is known for its popular cereal brands.
UnitedHealth’s Stock Decline Amid Investigation
DOJ Probe Affects UnitedHealth
UnitedHealth Group (UNH) shares fell nearly 2% after reports surfaced about a Department of Justice investigation into the company’s Medicare billing practices. The company has faced scrutiny over its Medicare Advantage program, contributing to a significant drop in its stock value this year.
Conclusion
The market has seen significant movements today, with notable gains in energy, technology, and housing sectors, while some companies faced declines due to various challenges. Investors are closely monitoring these developments as they unfold.