Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.62%) is in second place on Monday afternoon.

Briefly, S&P 500 constituents Micron (MU 99.51, +9.64, +10.73%), Steel Dynamics (STLD 119.28, +6.13, +5.42%), and Align Tech (ALGN 220.05, +11.79, +5.66%) pepper the top of the standings. MU and fellow semiconductor peers jump on Monday in reaction to Foxconn (HNHPF 11.34, +0.34, +3.14%) posting record Q4 revenue on surging AI server demand, STLD is decently higher after peer Commercial Metals' (CMC 51.19, +2.30, +4.70%) in-line results were capped by better-than feared commentary,  while ALGN caught a premarket upgrade to Outperform at Leerink citing growth prospects.

Meanwhile, Palantir Technologies (PLTR 75.19, -4.70, -5.88%) slides to the bottom of the average after Morgan Stanley resumed coverage this morning at Underweight, tgt $60 (-24.9% from Friday's close).