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Stock Market Today: Chip Stocks Surge as Nvidia Leads the Way

U.S. stock futures surged on Monday as chip stocks shone, with Nvidia leading the charge. Contracts on the Nasdaq 100 jumped almost 1%, while S&P 500 futures rose roughly 0.7%, poised to build on Friday's tech-led rally. Dow Jones Industrial Average futures also saw a modest rise of 0.3%. The upbeat mood kicked off the first full-on week of 2025 for traders, highlighted by the release of the December nonfarm-payrolls report scheduled for Friday. Chip stocks rallied after a record revenue and strong sales forecast from Nvidia's server partner Foxconn, boosting optimism for AI-fueled growth. Nvidia shares rose 2% in pre-market trading, while peers AMD and Micron Technology each gained over 3%. Focus remains on Nvidia later Monday when CEO Jensen Huang gives the keynote speech to start the CES tech conference. Investors will be listening for signs that Nvidia's new Blackwell chip has overcome supply glitches.
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Ontarians to Receive $200 Rebate Cheques in January and February


Millions of Ontarians can look forward to a little extra cash in their pockets as the provincial government plans to mail out $200 rebate cheques by late January or early February. Premier Doug Ford and Finance Minister Peter Bethlenfalvy announced the tax-free rebates in October, citing higher-than-expected revenues and the impact of inflation on provincial sales tax as the reasons behind the initiative.

Eligible recipients include Ontarians aged 18 and over who filed their 2023 tax returns, with an additional $200 per child. However, those who were bankrupt or incarcerated in 2024 will not receive a payment. The rebates are expected to cost the provincial treasury about $3 billion.

While the government has denied any connection between the rebates and a potential early election, opposition leaders have criticized the move, calling it a distraction from pressing issues like health care and housing.



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