Supermicro shares are building on recent momentum

Major U.S. stock indexes rose to start the Thanksgiving week.

The post-election rally regained momentum after President-elect Donald Trump named hedge fund manager Scott Bessent as his pick to lead the Treasury Department.

The S&P 500 rose 0.3 percent. The tech-heavy Nasdaq also rose 0.3%, while the Dow added 1% to a record close.

Shares of Super Micro Computer ( SMCI ) rose 16%, extending the streak of gains posted last week, after the server maker filed a compliance plan related to the release of its delayed annual report and announced that accounting firm BDO would step to as its auditor. Supermicro secured the best daily performance in the S&P 500 for the fifth time in six trading sessions.

US Treasury yields ticked lower, giving a boost to shares in the solar and housing sectors. Shares in the solar technology supplier Enphase Energy (ENPH) rose 8.5 per cent. Shares in major housebuilders also saw gains amid hopes that the increased mortgage rates could be moderated.

Shares of cosmetics retailer Ulta Beauty ( ULTA ) rose 7.2% on Monday. The gains followed a strong earnings report from peer Bath & Body Works ( BBWI ), which showed better-than-expected sales and profit while also issuing guidance for the current quarter that topped consensus forecasts. The results and outlook bode well for demand in the key Christmas shopping season. Bath & Body Works shares rose more than 16%.

The shares in Pool Corp. ( POOL ) rose 6.4% after regulatory filings showed legendary investor Warren Buffett’s Berkshire Hathaway ( BRK.A ) had bought 400,000 shares of the swimming pool supplies and equipment distributor. Although pool construction spending has declined in the uncertain economic environment, Pool Corp. a strong market share in the industry and the demand for maintenance products helps generate stable revenues.

Shares of energy technology supplier GE Vernova ( GEV ) fell 5.8%, the steepest decline of any S&P 500 stock. Although the company has been the subject of positive comments from several analysts who have noted an improved macroeconomic outlook and opportunities due to power demand related to artificial intelligence (AI) applications, GE Vernova faces uncertainties as President-elect Donald Trump has promised to reverse the policies designed to strengthen the renewable energy industry.

ConocoPhillips ( COP ) shares fell 5.1% as the oil and gas exploration and production giant completed its acquisition of Marathon Oil. The company announced an offer to holders of debt securities issued by Marathon to exchange them for newly issued ConocoPhillips notes.

Oneok ( OKE ) shares fell 4.7% after the natural gas company announced a plan to acquire the remaining stake in Enlink Midstream ( ENLC ) for $4.3 billion. The announcement raised concerns about dilution, with about 37 million new shares to be issued as part of the transaction, as well as uncertainty about the deal’s debt impact.

Shares of aerospace and defense contractor Lockheed Martin ( LMT ) fell nearly 4%. A post by Elon Musk over the weekend on his X social media platform questioned the wisdom of building expensive manned fighter jets like Lockheed’s F-35 given the effectiveness and efficiency of drones. Musk’s post came as he prepares to take on a leadership role in the incoming Trump administration’s Department of Government Efficiency.