U.S. stocks on the move: Amazon, CoreWeave, Moderna
SPY•The S&P 500 rose 0.87% and the Nasdaq gained 1.71% as AI-related stocks rebounded and lower oil prices offered support ahead of key earnings reports. Amazon rose after Morgan Stanley named it a top pick, while CoreWeave gained after a Goldman Sachs upgrade and Moderna recouped part of its losses.
1. Markets rise
At 11:30 EDT, the Dow was up 0.22%, the S&P 500 gained 0.87% and the Nasdaq Composite rose 1.71%. AI-related stocks rebounded from last week's sharp selloff, while easing oil prices provided additional support ahead of key earnings reports this week.
2. Company moves
Amazon shares rose after Morgan Stanley named it a top pick and raised its price target. CoreWeave gained after Goldman Sachs upgraded the stock to buy, while its debt yields eased. Moderna recouped part of its losses after BofA raised its price objective ahead of a key cancer vaccine readout.
