Tuesday, May 21, 2024
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The Dow Ends Over 200 Points Higher, and the S&P 500 Ends a Six-Day Losing Streak as Technology Recovers

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)

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