US markets today: Nvidia and AI stocks lift Wall Street even as most shares decline; Dow dips, S&P 500 nears record high

Wall Street ended mixed on Monday, with Nvidia and other technology giants powering modest gains even as most stocks slipped. The S&P 500 rose 0.4%, edging close to its record high set last week, while the Dow Jones Industrial Average fell 34 points, AP reported.

The Nasdaq composite advanced 0.9%, supported by another strong showing from Nvidia and Palantir Technologies.Nvidia once again emerged as the biggest driver for market gains, continuing its dominance through 2025. Palantir also rose ahead of its earnings release, adding to investor optimism around AI-linked stocks. Kimberly-Clark, however, fell sharply after announcing a $48.7 billion cash-and-stock acquisition of Kenvue, the maker of Tylenol.

Kenvue’s shares jumped 19% on the news.In another major corporate move, Microsoft signed a $9.7 billion cloud services deal with AI firm IREN, gaining access to Nvidia’s chips to meet soaring demand for AI computing. IREN shares surged 22% in premarket trading, while Microsoft remained largely unchanged.Market watchers said the focus remains on earnings from big names like Spotify, Uber, McDonald’s, and DoorDash this week.

Analysts note that companies are under pressure to show strong profit growth to justify the sharp rally in US stocks since April.In energy markets, crude prices fluctuated after OPEC+ announced a halt to planned production hikes for early 2026. US benchmark crude fell 16 cents to $60.82 a barrel, while Brent crude slipped 15 cents to $64.62.Global markets traded higher. Germany’s DAX rose 1.1%, while Paris’s CAC 40 gained 0.2%.

In Asia, South Korea’s Kospi climbed 2.8% to a record close, buoyed by SK Hynix and Samsung Electronics’ gains following collaboration plans with Nvidia.Chinese markets also advanced, with the Shanghai Composite up 0.6% and Hong Kong’s Hang Seng rising 1%. However, gold-related stocks fell after Beijing reduced tax rebates on sales of the precious metal. Spot gold rose 0.6% to $4,020.30 per ounce — still below recent record highs near $4,400