The S&P 500 rose on Monday despite rising oil prices, led by gains in the technology sector following Nvidia’s announcement of a new PC chip.
Nvidia shares gained 5%, boosting the broader market, with Dell Technologies and HP Inc climbing over 10% and 8%, respectively. In contrast, Intel, a long standing leader in PC chips, declined 5%.
Energy was the only other sector in the green, with Marathon Petroleum rising 3%, and Exxon Mobil and Chevron increasing 2% and 1%, respectively.
Oil prices also advanced, with West Texas Intermediate crude jumping 5.93% to $92.54 per barrel and Brent crude rising 4.24% to $94.98. Notably, in May, US oil benchmarks experienced their largest monthly decline since April 2025, dropping nearly 17%.
The market overall edged higher, with the S&P 500 up 0.26%, the Nasdaq Composite climbing 0.42%, and the Dow Jones gaining 46 points (0.09%), with all three indices reaching new intraday highs.
Source (CNBC)
