Uber, Unity Software, Tesla and more

• US stocks rose on the first trading day of the new year as optimism about future corporate growth was tempered somewhat by concerns about the technology sector.

• Uber Technologies and Norwegian Cruise Line Holdings were added to Goldman Sachs’ US conviction list.

• Apple is cutting the prices of its iPhone in China as competition in the mobile phone market heats up.

U.S. stocks began trading 2025 higher at midday, as upbeat analyst comments were offset somewhat by technology concerns. The Dow Jones Industrial Average gave up big early gains to trade up 0.2%, while S&P 500 and Nasdaq were 0.4% and 0.5% higher respectively.

Shares in Uber Technologies (UBER) and Norwegian Cruise Line Holdings (NCLH) advanced as Goldman Sachs added both to its US conviction list, arguing that both have promising growth potential ahead.

Shares of Unity software (U) took off after “Roaring Kitty” posted a clip on X of the late singer Rick James, who had a song called “Unity” that some saw as a sign of meme stock the hero promoted the stock.

Shares in Newmont (EASY) and rival gold miners rose as the price of the precious metal began the year jumping 1% after the 2024 record.

Tesla (TSLA) was the worst-performing stock in the S&P 500 after the electric car maker posted disappointing fourth-quarter delivery numbers.

Shares in Neumora Therapeutics (NMRA) plunged to an all-time low when the biopharmaceutical company’s experimental depression drug failed to meet goals in a Phase 3 trial.

Apple (AAPL) shares fell as the tech giant cut prices on its iPhone in China as it faced increased competition.

Oil futures rose. The interest rate on the 10-year government bond was little changed. The US dollar rose against the euro, pound and yen. Most major cryptocurrencies were trading higher.

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