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U.S. equity markets opened the week higher, supported by strong performance in technology stocks, particularly semiconductor companies and firms tied to artificial intelligence infrastructure.
The S&P 500 gained 0.2%, the Dow Jones Industrial Average edged up by less than 0.1%, while the tech‑heavy Nasdaq 100 advanced about 0.3%, leading the major New York indices.
One of the standout drivers was Alphabet, Google’s parent company, which surged more than 5% after Berkshire Hathaway, led by billionaire investor Warren Buffett, disclosed a $4.9 billion investment in the company.
Chipmakers also contributed to the rally. Micron Technology rose around 4%, Western Digital added about 0.3%, while Seagate and Lam Research each gained roughly 2%.
Despite the early gains, caution remained in the market as investors awaited the Federal Reserve’s meeting minutes and Nvidia’s third‑quarter earnings later this week. Nvidia’s results are seen as a key gauge of investor appetite for further capital inflows into the AI sector.
Retail earnings are also in focus, with reports from Home Depot on Tuesday, Target on Wednesday, and Walmart on Thursday. These results are closely watched as indicators of consumer spending strength, which in turn could influence the Fed’s view on inflation trends.
On the economic front, the New York Empire State Manufacturing Index surprised to the upside, climbing to 18.7, its highest level in a year, compared with expectations for a decline to 5.8. While the stronger reading boosted optimism about the U.S. economy, it also raised concerns that it could reduce the likelihood of further rate cuts by the Fed. Markets are currently pricing in about a 41% probability of a 25‑basis‑point cut at the December meeting.
