Stocks surged higher on Monday, regaining momentum following a challenging week, with tech stocks making a strong comeback and calming tensions in the Middle East. Traders were also focused on upcoming major earnings reports.
The Dow Jones Industrial Average rose by 253.58 points, or 0.67%, closing at 38,239.98. The S&P 500 saw a 0.87% increase, ending the session at 5,010.60, while the Nasdaq Composite gained 1.11% to reach 15,451.31. Notably, both the S&P 500 and Nasdaq snapped a six-day losing streak.
Chipmaker Nvidia and artificial intelligence leader rebounded by 4.4%, recovering from a nearly 14% decline the previous week, marking its worst performance since September 2022. Additionally, Arm Holdings jumped nearly 7% on Monday.
Source (CNBC)
