Stock market today: Live updates

Orders for long-lasting goods such as autos, appliances and computers unexpectedly fell in December, the Commerce Department reported Tuesday.

Durable goods demand declined by 2.2% for the period, the fourth drop in the past five months, including a 2% slide in November. Economists surveyed by Dow Jones had been looking for an increase of 0.5%.

However, excluding transportation, orders showed a 0.3% increase. Nondefense aircraft and parts orders tumbled by 45.7%.

— Jeff Cox

Morgan Stanley says that while it’s staying positive on major semiconductor names such as Nvidia, it is reducing its price targets on them following Monday’s broad selloff over DeepSeek concerns.

Analyst Joseph Moore cut hits price target on Nvidia shares to $152 from $166, which indicates 28.3% upside from Monday’s close. The stock plunged 17% on Monday.

For Marvell Technology shares, Moore lowered his price target by $7 to $113, or 12.6% above Monday’s close price. The analyst also decreased his price target on Broadcom to $246 from $265 per share, implying shares gaining 21.7% from where they closed on Monday.

Micron Technology shares are currently trading around the level of Morgan Stanley’s new price target. Moore issued a new target price of $91 per share, down from $98.

— Hakyung Kim

Check out some of the companies making headlines in premarket trading.

• Nvidia — The artificial intelligence darling bounced back about 3% after plunging 17% a day earlier. Shares of peer firms with large AI exposure Broadcom and Oracle also ticked up more than 2%.
• Boeing — The aerospace stock was less than 1% lower after fourth-quarter results missed analyst estimates. Boeing reported an adjusted loss of $5.90 per share, while analysts polled by LSEG expected a loss of $3. Boeing’s fourth-quarter revenue of $15.24 billion also missed estimates that called for $16.21 billion.
• AutoDesk — Shares of the software company advanced more than 2% following an upgrade to outperform from neutral at Mizuho Securities. Analyst Siti Panigrahi cited a potential recovery in the industrial data sector as well as an improving macro backdrop could signal upside ahead.

Read the full list here.

— Brian Evans

Despite a tough sales outlook in the near-term, Oppenheimer sees reasons to like CNH Industrial.

Analyst Kristen Owen upgraded the agricultural and construction equipment maker to outperform from perform. Owen’s new $16 price target implies shares can climb 21.6% over Monday’s closing level.

“Now into the second year of equipment sales declines, we believe CNH is approaching trough EPS in 2025,” Owen wrote to clients in a Tuesday note. “Coming out of 3Q earnings season, investor sentiment in the space has improved, and we see incremental catalysts in 2025 helping to support a reversion trade for CNH.”

Owen said CNH is coming into 2025 with a “lowered bar” given the negative sales expectations. Though she admitted that 2025 equipment fundamentals are “challenging,” she said higher grain prices can help farm incomes — which could, in turn, allow them to buy CNH products.

The analyst also pointed to potential cost savings programs and a construction monetization plan, as well as the investor day, as possible catalysts for the stock.

Shares ticked higher by 0.2% in Tuesday’s premarket. CNH’s stock has jumped more than 16% so far this year, reversing course after 2024’s 7% slide.

— Alex Harring

Autodesk shares rose more than 2% before the bell on Tuesday after Mizuho suggested that the stock has a lot more room to run.

Analyst Siti Panigrahi raised his price target on the stock by $120 to $400, which implies shares can rally 33.7% over Monday’s closing level. Panigrahi also hiked his rating on the software stock to outperform from neutral.

“Signs of recovery in industry data, positive channel checks and improving macro trends, further reinforce our positive outlook on ADSK fundamentals,” Panigrahi told clients in a Tuesday note. “The resilient business momentum amid improving macro trends and industry challenges are encouraging.”

The company’s new transaction model can drive up revenue growth and aid both free cash flow and margins, the analyst said. Looking ahead, Panigrahi said cloud and generative artificial intelligence can act as secular tailwinds for Autodesk growth over the long-term.

Autodesk has added just over 1% so far in 2025. It gained more than 21% in the prior calendar year.

— Alex Harring

Nvidia shares rose more than 2% in after-hours trading, attempting a slight comeback after the AI darling saw its shares plunge 17% during the regular trading session.

That fall, sparked by fears from the emergence of Chinese AI startup DeepSeek, resulting in a market cap loss for Nvidia of close to $600 billion, the biggest drop in history for a U.S. company. Nvidia had its wrost day since March 16, 2020.

Shares of Nvidia are now down 11.8% this year. The stock is up about 94% over the past year.

— Pia Singh

The U.S. Senate voted on Monday to confirm Scott Bessent as Treasury secretary in President Donald Trump’s administration.

The Senate voted 68-29 to confirm Bessent, an investor, hedge-fund manager and billionaire political donor who once worked with George Soros. He will be the 79th Treasury secretary.

Bessent is pushing a gradual 2.5% universal U.S. tariffs plan, the Financial Times reported on Monday evening. The levies could go up to as high as 20 percent, the report said.

— Pia Singh

U.S. President Donald Trump said Monday evening that Chinese AI startup DeepSeek should serve as a “wake-up call” for American industries.

“The release of DeepSeek AI from a Chinese company should be a wake up call for our industries that we need to be laser focused on competing,” Trump said. “Instead of spending billions and billions, you’ll spend less, and you’ll come up with, hopefully, the same solution under the Trump administration. We’re going to unleash our tech companies, and we’re going to dominate the future like never before.”

The emergence of DeepSeek’s competitive — and cheap — open-source AI model rattled markets on Monday and ignited fears that U.S. hyperscale tech spending could prove excessive in creating competitive AI models.

“I think maybe this is really more of a China-U.S. issue than people think,” Larry Benedict of The Opportunistic Trader said after the previous session’s sell-off. “That makes me a little bit more fearful.”

— Pia Singh, Jesse Pound