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Stocks rose on Monday, boosted by Alphabet, as the market rebounded into the Thanksgiving holiday week after a slide that’s knocked the air out of this year’s artificial intelligence bull run.
The Dow Jones Industrials sprang up by noon ET 199.39 points to 46,444.80.
The S&P 500 added 92.03 points to 6,695.02.
The NASDAQ popped 526,82 points, or 2.4%, to 22,799.90.
Shares of Alphabet saw gains Monday as investors grew optimistic about the company’s standing in the AI race. Google last week announced its upgraded AI model, Gemini 3, a move that comes nearly eight months following its unveiling of Gemini 2.5. The stock was last up 4%.
The enthusiasm surrounding Alphabet extended to other names in the AI trade. Broadcom surged 9%, while Micron Technology advanced 7%. Palantir Technologies and AMD each popped around 5%.
The stock market is closed on Thursday for Thanksgiving Day, and it shuts down early at 1 p.m. ET on Friday.
Stocks are attempting to build on a strong rebound that started on Friday, after the head of the New York Federal Reserve left the door open to a December interest rate cut.
Major averages have still stumbled sharply since the month began, pressured by a reconsideration of sky-high valuations across artificial intelligence-linked names that had powered much of 2025's market gains.
The S&P 500 slipped 2% last week, and its November decline now stands at about 3%. The NASDAQ Composite, which shed 2.7% in the prior week, is down almost 5% for the month. The 30-stock Dow fell 1.9% last week and is off nearly 3% month to date.
The final stretch of November may be no easier. With trading volumes expected to thin out in the coming days and few meaningful catalysts ahead of the Fed’s December policy meeting, volatility could pick up.
Prices for the 10-year Treasury gained ground, lowering yields to 4.04% from Friday’s 4.06%. Treasury prices and yields move in opposite directions.
Oil prices eked up 0.38 cents to $58.44 U.S. a barrel.
Gold prices brightened $11.40 to $4,090.80 U.S. an ounce.
