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US Markets Open Lower, NVIDIA Drops 2.58%, AMD Falls 3.14%

Market Watcher01-10

On January 10, 2025, US stock markets opened lower. The Dow Jones Industrial Average fell by 0.50%, the NASDAQ Composite dropped by 0.94%, and the S&P 500 decreased by 0.74%.

In sector performance, oil-related ETFs saw significant gains with $UCO$ rising 4.51%. The gold sector also performed well, with $GFI$ up 5.91%, $AU$ up 3.59%, and $KGC$ up 3.18%. Conversely, the semiconductor sector experienced notable declines, with $TSM$ down 1.03%, $AMD$ down 3.14%, and $NVDA$ down 2.58%.

Apple fell by 1.12%. The master-planned community of Verrado in Buckeye, Arizona, is facing challenges related to water rights, impacting the construction of 4,000 homes.

NVIDIA dropped by 2.58%. Bank of America reiterated its buy rating on NVIDIA following a meeting with its management. However, concerns over chip export restrictions and the impact on NVIDIA and other chip makers contributed to the decline.

Microsoft decreased by 0.57%. Microsoft, along with Google, donated $1 million to President Trump's inauguration fund.

Tesla Motors fell by 1.06%. Tesla is recalling about 239,000 vehicles due to an issue with the rear-view camera, which may not display an image, increasing the risk of a crash.

Broadcom declined by 1.47%. The stock was affected by the broader market downturn and sector-specific challenges.

Taiwan Semiconductor Manufacturing decreased by 1.03%. Despite reporting a 33.9% year-over-year increase in annual sales, the stock was impacted by the overall market sentiment.

Wal-Mart rose by 0.71%. Wells Fargo updated Walmart's analyst ratings and price target, maintaining an Overweight rating and raising the price target from $96.00 to $100.00 per share.

Alphabet increased by 0.73%. Bank of America reiterated its buy rating on NVIDIA, which positively influenced Alphabet's stock.

Amazon.com fell by 0.50%. Despite the positive outlook on NVIDIA, Amazon's stock was affected by the overall market decline.

Advanced Micro Devices dropped by 3.14%. Mizuho Securities reduced the target price for AMD from $180 to $160, indicating a bearish outlook on the stock.

Palantir Technologies Inc. fell by 2.39%. Despite recent sell-offs, the company is seen as having long-term potential.

fuboTV Inc. surged by 9.36%. Disney, Fox Corp., and Warner Bros. Discovery decided not to move forward with their joint streaming venture Venu Sports, leading to a rise in FuboTV's stock.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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