S&P 500, Nasdaq Climb; Nvidia, Chevron Lead Surges

S&P 500, Nasdaq Climb; Nvidia, Chevron Lead Surges

U.S. major indexes finished the latest session with clear gains as technology and energy stocks paced the advance. The S&P 500 rose roughly 0.6%, the Dow added about 0.5% and the Nasdaq posted similar upside, with investors digesting tangible corporate developments rather than speculation. Several discrete events — Nvidia’s AI chip flow into China, Chevron and Merck strength in the Dow 30, Nasdaq’s own share gains, a Nasdaq‑100 rebalancing and Paramount’s escalated takeover bid for Warner Bros. Discovery — combined to shape flows and headline risk on a muted‑volume holiday day.

Key Movers: Tech and Energy

Nvidia and the AI hardware story

Nvidia again anchored the tech rally as reports indicated shipments of its high‑end H200 AI accelerators are moving into China ahead of Lunar New Year. That operational step reinforced investor confidence in ongoing demand for data‑center AI hardware and lifted semiconductor names broadly. Micron and other chip suppliers outperformed as traders rotated back into AI‑exposed suppliers, tightening bid/ask spreads and supporting index gains.

Chevron and downstream strength lift the Dow

Within the Dow Jones Industrial Average, Chevron and Merck were among the largest point contributors. Chevron’s advance, tied to steady commodity pricing and upbeat operational commentary, added meaningful positive drag to the index, while Merck’s moves reflected idiosyncratic strength in health care. Together these components accounted for a sizable slice of the Dow’s gain on the session.

Corporate and Index Developments Driving Flows

Nasdaq‑100 reconstitution takes effect

The annual Nasdaq‑100 reshuffle became effective, with six companies added — among them Alnylam Pharmaceuticals, Ferrovial, Insmed, Monolithic Power Systems, Seagate Technology and Western Digital — and six names removed, including household and tech brands such as Biogen, Lululemon and ON Semiconductor. The rebalance redistributes hundreds of billions in passive assets tied to ETFs like QQQ, creating measurable buying pressure for the additions and headwinds for the deletions.

Paramount ups the ante on Warner Bros. Discovery bid

Paramount raised its hostile bid for Warner Bros. Discovery to $30 per share, backed by a significant equity financing guarantee from Larry Ellison and an increased reverse termination fee. That concrete corporate action produced sharp moves in both stocks—Paramount climbed on the strategic escalation while WBD shares also firmed—illustrating how M&A activity can shift sentiment across media and broader small‑cap segments in a single session.

Volatility, Safe Havens and Market Tone

Volatility measures dampened as the Cboe VIX fell materially, signaling a calmer trading backdrop. At the same time, gold and silver attracted flows and hit record levels amid cross‑currents between easing equity volatility and selective geopolitical concerns; miners and names like Newmont saw positive reactions as investors diversified amid year‑end positioning.

Conclusion

The trading day showcased a mix of concrete catalysts rather than broad macro surprises: AI hardware logistics, energy earnings momentum, index reconstitution and a notable M&A bid all produced identifiable winners and losers. For investors, these developments underscore the value of tracking event‑driven catalysts—from index flows to corporate financing moves—when building exposure to large‑cap indices such as the S&P 500 and Nasdaq or individual sector leaders in semiconductors and energy.