Dow, S&P 500, Nasdaq turn higher as Nvidia surges on OpenAI deal

Shares of Constellation Energy (CEG) and peer Vistra (VST) rallied on Monday after the nuclear energy following a bullish analyst call.

Scotiabank analyst Andrew Weisel rated both companies with a Sector Outperform rating. Constellation, which is up more than 50% year-to-date, received a price target of $401. Weisel forecast Vistra will reach $256 over the next year.

Electricity and nuclear-related stocks have been on fire this year as demand for data center power skyrockets.

Shares reached session highs on Monday after Nvidia (NVDA) announced it would invest up to $100 billion in chatGPT maker OpenAI (OPAI.PVT).

Nvidia (NVDA) stock soared back toward an all-time high after the company announced it would invest up to $100 billion in OpenAI (OPAI.PVT).

Reuters has more details on the agreement:

The new Nvidia investment comes days after the company said it would invest up to $5 billion in struggling chipmaker Intel (INTC), whose shares surged in the aftermath.

Read more here.

Oracle (ORCL) shares reversed direction to rise 3% midday as the company was officially named in a new TikTok deal.

A senior White House official on Monday morning confirmed the details of the TikTok deal, which will move the social media app’s US operations into a new joint venture based in the United States and controlled by American investors, who will have a majority of the new company’s ownership stake and of its board.

Oracle and Venture Private Equity firm Silver Lake are set to lead the new venture, with China-based tech giant ByteDance holding a less than 20% equity stake.

The venture will receive a copy of TikTok’s valuable content recommendation algorithm, which will be “fully inspected” and “retrained” by Oracle — the group’s security provider — on US user data. The algorithm will be regularly inspected by US government officials.

“We feel [this] meets every security requirement that we need for the algorithm to make sure it’s behaving appropriately,” said a senior White House official.

Read more on the news from me and Ben Werschkul here.

Yahoo Finance’s Pras Subramanian reports:

Read more here.

Yahoo Finance’s David Hollerith reports:

Read the full story here.

Apple (AAPL) shares touched just over $251 on Monday, their highest level since December 2024, as Wedbush analyst Dan Ives raised his price target on the stock to $310 from $270.

The new price target is the highest of Wall Street analysts who cover the stock and implies a nearly 24% gain from Apple’s current level.

“Heading into this iPhone 17 cycle we were expecting this upgrade cycle to be a good, but not great one,” Ives wrote. “Instead the combination of a pent-up consumer upgrade cycle with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last 4 years, coupled with some design changes/enhancements have been the magical formula out of the gates.”

Apple shares jumped last week as its iPhone 17 lineup hit store shelves.

US stocks pulled back at the open on Monday after rallying to fresh all-time highs at the end of last week.

The Dow Jones Industrial Average (^DJI) sank roughly 0.4%, while the S&P 500 (^GSPC) dipped 0.2%. The Nasdaq Composite (^IXIC) was about 0.1% lower, as megacap tech stocks were mixed amid Trump’s new $100,000 fees for H1-B work visas and Oracle’s (ORCL) CEO shakeup.

Investors are looking ahead to a slew of Federal Reserve speakers this week, including Fed Chair Jerome Powell and Stephen Miran. Wall Street is also watching for the personal consumption expenditures price index reading on Friday, a key inflation print, for clues to the chances of further US interest-rate cuts.

Oracle shares dipped more than 1% before the market open after the software giant said it appointed two new co-CEOs to replace Safra Catz.

The two new chief executives are Clay Magouyrk, who was the president of the company’s AI cloud business, Oracle Cloud Infrastructure (OCI), and Mike Sicilia, who was the president of Oracle Industries. The two were named presidents of those Oracle segments in June, which Business Insider reported at the time to be part of a broader succession plan, citing a person familiar with the matter.

Oracle’s former CEO, Safra Catz, served in her role since 2014. The Israeli-American billionaire and former investment banker has been appointed executive vice chair of the company’s board of directors.

“In her role as Vice Chair, Safra and I will be able to continue our 26-year partnership — helping to guide Oracle’s direction, growth and success,” Oracle chair Larry Ellison said in a statement.

Oracle’s stock decline reverses gains earlier in the morning after news that the tech firm will recreate and provide security for a new TikTok algorithm to allow the social media app to continue operating in the US, avoiding an impending ban. Analysts have told Yahoo Finance that Oracle’s involvement in such a deal is seen as a positive for the software company because it allows it to continue its partnership with TikTok, storing the app’s American user data. That deal accounted for 5% of the revenue seen by OCI in its 2025 fiscal year, MorningStar analyst Luke Yang estimated.

Here’s a look at some of the top stocks trending in premarket trading:

Snap (SNAP) stock rose 7% in premarket trading on Monday. Last week analysts from JMP Securities maintained its Market Perform rating on the company, citing strong advertiser sentiment.

Intel (INTC) stock fell 1% before the bell on Monday. Semiconductor company Nvidia (NVDA) announced a joint chip partnership and $5 billion stake in Intel (INTC) last week.

Coinbase (COIN) shares fell 3% in premarket trading following a pullback in cryptocurrencies, which saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp selloff.