Shares of technology companies fell, but not by as much as the broad market, amid optimism about earnings in the sector.
Strategists at money manager UBS Global Wealth Management boosted projections for S&P 500 earnings, largely based on strong trends in memory-chip pricing.
"With fiscal and monetary stimulus in the pipeline and peak tariff headwinds likely behind us, we expect supportive guidance," said David Lefkowitz, head of U.S. equities at UBS Global Wealth Management, in e-mailed commentary.
SK Hynix, a major supplier of high-bandwidth-memory products to Nvidia, plans to build a $13 billion chip packaging plant in South Korea to keep up with AI chip demand.
Percepta, an AI startup that Palantir has sued for allegedly poaching its workers and stealing company secrets, has denied the allegations and asserted in a legal filing Monday that Palantir was trying to "scare others away from leaving."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-13-26 1750ET
