The S&P 500 rose on Monday as Wall Street began a new month of trading, with investors looking past the recent losses in silver and bitcoin.
The Dow Jones Industrials zoomed 479.49 points, or 1%, to 49,371.96.
The much-broader index recovered 44.54 points to 6,983.57, helped by rise in Oracle shares after the data center company announced it’s going to raise up to $50 billion to build additional capacity for cloud customers
The NASDAQ recouped 170.24 points to 22,632.57.
Bitcoin dropped below $80,000 for the first time since April, a sign investors were taking more risk off the table following Friday’s sharp declines in gold and silver.
Silver, which has more than doubled over the past 12 months, plunged around 30% on Friday. That marked the metal’s worst one-day performance since 1980. Gold also dropped around 10%.
Wall Street also turned its attention to Nvidia as questions over the artificial intelligence loomed. The Wall Street Journal reported, citing people familiar with the matter, that Nvidia’s plans to pour $100 billion into OpenAI had stalled, with chipmaker execs expressing doubt about the deal. Nvidia shares were down 1%.
Wall Street also turned its attention to Nvidia as questions over the artificial intelligence loomed. The Wall Street Journal reported, citing people familiar with the matter, that Nvidia’s plans to pour $100 billion into OpenAI had stalled, with chipmaker execs expressing doubt about the deal. Nvidia shares were down around than 2%.
Prices for the 10-year Treasury faded Monday, raising yields to 4.27% from Friday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices slid $3.17 to $62.04 U.S. a barrel.
Gold prices gave up $50.50 to $4,694 U.S. an ounce.
