Robinhood and Western Digital Surge; Vistra Stock Slides

The operator of an electronic brokerage platform got a boost after highlighting some signs of growth, while shares of a power generator moved lower following the announcement of a nuclear energy deal.

Major U.S. equities indexes notched modest gains Monday as tech stocks climbed and investors weighed the implications of a potential government shutdown later in the week. The S&P 500 advanced 0.3%. The Dow ticked 0.2% higher, and the Nasdaq added 0.5%. Click here to see more reporting from Investopedia on the day’s market activity.

Robinhood Markets (HOOD) shares surged over 12% to close at an all-time high and secure the top performance in the S&P 500 on Monday. CEO Vlad Tenev shared a social media post showing that the brokerage platform operator surpassed 4 billion event contracts traded on its prediction markets. Piper Sandler analysts had cited prediction markets growth when they boosted their price target on Robinhood’s stock last week.

Shares of Western Digital (WDC) rose 9.2% after analysts at Morgan Stanley and Rosenblatt Securities lifted their price targets for the data storage stock, pointing to growing demand for hard drives to support artificial intelligence. The research firms also raised their price targets for shares of Seagate Technology (STX), which added 5.3%.

Shares of Coinbase Global (COIN), operator of the largest U.S. crypto exchange, gained 6.8% as the price of Bitcoin (BTCUSD) and other major cryptocurrencies moved higher. In comments last week, Hester Peirce, a commissioner on the Securities and Exchange Commission, advocated for increased regulatory clarity around crypto that could help drive industry growth.

Shares of AppLovin (APP), a provider of marketing and monetization tools for mobile app developers, jumped 6.3% to a record high after Morgan Stanley raised its price target on the stock. Analysts highlighted the upcoming soft launch of AppLovin’s Axon Ads Manager, a platform intended for nongaming advertisers, suggesting the rollout could help drive momentum outside the gaming business.

Companies in the furniture business faced pressure after President Donald Trump said he plans to impose significant tariffs on imported furniture. Although details remain uncertain about how the levies might be implemented, the news had a negative impact on businesses that import a large proportion of their products. Shares of Williams-Sonoma (WSM), parent of numerous home goods brands, sank 4.7%, losing the most of any stock in the S&P 500.

Utility company Vistra (VST) announced via a regulatory filing that it has signed an agreement with an undisclosed buyer to supply power from its Comanche Peak nuclear facility in Texas. A lack of information about the customer and other details raised concerns from some analysts, and shares slipped 4.5% following the news.

Carnival (CCL) shares sank 4% after the cruise operator reported its quarterly results. Although the company topped revenue and adjusted profit forecasts, highlighting strong bookings, Carnival issued a lower-than-expected forecast for net yields, a gauge of revenue from passengers after commissions and other costs per cruise day.