MGM Resorts International, Nvidia, Airbnb, Walgreens Boots Alliance, and Carnival Corp. The biggest S&P 500 gainers in the stock market today.
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The S&P 500 tried to rebound on Monday, but closed 0.2% lower.
MGM stock rose % to 36.65 on Monday, but remains near its lowest level in nine months.
On Monday, HSBC initiated coverage on shares of MGM, ABNB and a slew of other travel and leisure names with buy ratings.
NVDA stock rebounded 3.8% to 429.75, after hitting as high as 409.45 during the day, as the artificial intelligence chip leader pared its September lows. This means that its two-month consolidation has now become a double-bottom base with a 476.09 buy point, according to MarketSmith. Still trading below its 50-day line is Nvidia’s shares.
Nvidia and Advanced Micro Devices could sell computer chips using broad designs from Arm Holdings, Reuters reported, as Microsoft looks to reduce its reliance on Intel.
ABNB stock, one of the new members of the S&P 500, rose 3.35% to 120.39, benefiting from HSBC’s new buy rating. Stocks remain below their 50-day and 200-day lines. Airbnb’s earnings are due on November 1.
Walgreens stock rose 3.3% to 21.96, but it remains below its long 50-day slipline. WBA stock rebounded after JPMorgan upgraded Walgreens to overweight, saying the new CEO represents a “new era” for pharmaceutical giant Dow Jones.
CCL stock rose 3.1% to 11.38 but only after hitting its lowest level in nearly five months. Carnival did not receive an initiative from HSBC, but it benefited from positive sentiment for the travel sector.