Dell Technologies (NYSE: DELL) became one of Monday’s loudest tech trades, closing with a 4% gain.
This of course comes after Trump had just taken part in a rare market-opening event from the Oval Office with the New York Stock Exchange and the Nasdaq. Then he told buyers, “Go out and buy a Dell computer.” Dell stock rallied by more than 7% after the comment, per data from Yahoo Finance.
Dell was also part of the White House launch of Trump Accounts, which is an investment account program for American children that is favorable when it comes to taxes. This new program launched on the Fourth of July.
CEO of the company Michael Dell, together with his wife Susan Dell, were present at the event since they committed to giving $6 billion to the account program. These funds are meant to finance the investment of kids who are below ten years old and were born prior to January 1, 2025.
Trump brings Dell into the White House market ceremony
The Monday event was built around the stock market’s opening bell, but Dell quickly became part of the market story. Trump praised Michael and Susan while speaking about the child investment accounts.
“Michael and Susan Dell, they are truly incredible,” Trump said. As Cryptopolitan reported before, he had already promoted Dell computers in May, when he first spoke about the couple’s planned donation.
“We’re going to get him that money back one way or the other, and then I’ll ask for another $6 billion … We’ll start the whole process all over again,” Trump said.
Trump’s 2025 annual financial disclosure, released last week, listed 24 Dell trades, with 16 purchases and eight sales across five accounts dated January 29 through November 18. Based on the disclosure ranges, the full activity was worth roughly $300,000 to $1 million. The purchases made up most of the total. Buy transactions were valued at up to $770,000, while sales were valued at up to $225,000.
The Trump Accounts launch also brought in more names from business and finance. Gwynne Shotwell, president of SpaceX, posted on X earlier Monday that she would give one share of SpaceX stock to a Trump Account “for each of more than two million children across our great nation.”
Several public companies have also said they will match the government’s $1,000 contribution for their workers’ children. The list includes Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), Bank of New York Mellon (NYSE: BK), BlackRock (NYSE: BLK), Charles Schwab (NYSE: SCHW), Charter Communications (NASDAQ: CHTR), Chipotle Mexican Grill (NYSE: CMG), Comcast (NASDAQ: CMCSA), Intel (NASDAQ: INTC), JPMorgan Chase (NYSE: JPM), Micron Technology (NASDAQ: MU), Robinhood Markets (NASDAQ: HOOD), and SoFi Technologies (NASDAQ: SOFI). Chime Financial was also named among the firms taking part.
Before the bell event, Vlad Tenev, CEO of Robinhood, arrived at the White House and called the accounts potentially “life changing.”
Tech stocks help Dell gain while indexes hit new highs
The wider market also gave Dell a strong setup. Stocks rose on Monday after Wall Street came back from the U.S. Independence Day holiday on Friday. Major indexes were already coming off a strong week, and tech buyers were active again.
The S&P 500 gained 0.72% and closed at 7,537.43. The Nasdaq Composite rose 1.12% to 26,121.16. The Dow Jones Industrial Average added 155.84 points, or 0.29%, and finished at a record 53,055.91. The Dow also reached a new intraday record during the session.
Technology Select Sector SPDR ETF (NYSEARCA: XLK) advanced by nearly 2%. Western Digital (NASDAQ: WDC) increased by 7%. Teradyne (NASDAQ: TER) advanced by 2.8%. Oracle (NYSE: ORCL) increased by 2.5%. Marvell Technology Group Ltd (NASDAQ:MRVL) surged by more than 1%.
Last week also gave stocks a strong base. The Dow rose close to 2% for the week. The S&P 500 gained 1.8%, while the Nasdaq Composite advanced 2.1%.
It wasn’t smooth sailing for the chip stocks ahead of Monday. Investors reduced some of their semiconductor bets and put money into other segments. VanEck Semiconductor ETF (NASDAQ: SMH) was down by 3.2% last week. It was the second straight weekly loss for SMH.
Despite that correction, SMH had gained over 80% during the first half of the year. On Monday, SMH regained about 2% of its value due to increased tech demand.
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