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BMO analysts have upgraded Old Dominion (Nasdaq: ODFL) stock to “outperform” amid the freight company’s disciplined approach. The stock is up 4.4% on the news.
Guggenheim analysts have reemphasized their “buy” rating on Alphabet (Nasdaq: GOOGL) stock after reports that Meta could be shifting from Nvidia’s GPUs to Google’s TPUs.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are kicking off the month of December on the downside, with all three of the major stock market averages trading in the red this morning, including a 0.87% drop in the Nasdaq Composite. Alphabet’s (Nasdaq: GOOGL) Google remains in the spotlight but is down 1.6% today. Morgan Stanley analysts are bullish on GOOGL, saying the stock is poised to reap a windfall amid rising demand for its TPU AI solution.
There could be a new chairman at the helm of the Federal Reserve by the end of this year. Reports indicate that President Trump is considering a handful of potential replacements for Jerome Powell, including current and past Fed governors as well as a BlackRock executive. According to betters on Kalshi, the top choice is reportedly Kevin Hassett.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 47,500.30 Down 216.12 (-0.44%)
Nasdaq Composite: 23,176.51 Down 189.95 (-0.81%)
S&P 500: 6810.97 Down 35 Down 36.74 (-0.54%)
Market Movers
Nvidia (Nasdaq: NVDA) has reclaimed the headlines, revealing an expanded partnership with Synopsys (Nasdaq: SNPS) to “revolutionize design and engineering across industries” through which the AI leader will invest a cool $2 billion in Synopsys stock. SNPS stock is celebrating, up 4.2%, while NVDA stock is gaining fractionally.
Wedbush’s Dan Ives believes that technology stocks will continue to drive market performance in 2026 amid derivatives activity tied to the AI revolution. The analyst firm is shaking up next year’s AI winner list, dropping stocks like SoundHound AI (Nasdaq: SOUN), ServiceNow (NYSE: NOW) and Salesforce (NYSE: CRM) and replacing them with names like CoreWeave (Nasdaq: CRWV), IREN Limited (Nasdaq: IREN) and Shopify (Nasdaq: SHOP).
Coinbase (Nasdaq: COIN) is tumbling 3.8% today with the bitcoin price stuck below the $90,000 per coin level.
Intel (Nasdaq: INTC) is falling by 1.7% today in some likely profit taking after Friday’s rally. Intel is the subject of reports that it could be supplying its chips to iPhone maker Apple (Nasdaq: AAPL).
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