Broadcom, Tesla Propel Nasdaq 100 Gains, Bitcoin Hits $107,000, Fueling Crypto Stocks Rally: What's Driving Markets Monday?

Quick Summary:

Tech stocks extended their rally to new heights on Monday, with the Nasdaq 100 index climbing over 1% to surpass 22,000 points, fueled by robust gains among key components in the index.Broadcom Inc.(NASDAQ:AVGO) led the charge, soaring over 8% after receiving bullish price-target updates from analysts.

The company's AI-driven growth potential gained further traction on Friday following its announcement of a collaboration with Apple Inc.(NASDAQ:AAPL) to produce a cutting-edge AI chip.Tesla Inc.(NASDAQ:TSLA) also rallied, jumping more than 5%, pushing its post-election gains to 85%, buoyed by positive analyst sentiment.

Wedbush Securities described Tesla as a “game-changer” in AI and autonomous advancements under Trump's administration, adding to the bullish outlook.

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: Donald Trump US0378331005 ETFs US81369Y4070 US73935A1043 Small Cap Mid Cap Large Cap Top Stories Midday update Tech QQQ Stories That Matter US4642876555 US78462F1030 DIA MARA Sector ETFs Broad U.S. Equity ETFs Electric vehicles GOOGL XLE AVGO US88160R1014 US5951121038 XLY Benzinga MU Cryptocurrency US21254S1078 US81369Y5069 MSTR NFE US5949724083 IWM Macro Economic Events Econ #s SPY US38259P5089 $BTC Equities RIOT SG9999006241 COIN US78467X1090 TSLA Economics AAPL

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 18:47:15 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 401 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 24454108

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