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U.S. stocks rose on Monday as key technology names advanced and oil prices and Treasury yields slipped, with Wall Street looking to recover from a mostly lower week.
The Dow Jones Industrials leaped 367.62 points to 52,050.26
The S&P 500 Index accumulated 114.3 points, or 1.5%, to 7,764.80.
The NASDAQ Composite surged 599.55 points, or 2.3%, to 27,122.09, for its first record close since June.
The broader market was supported by a rise in artificial intelligence-related stocks. Shares of Intel popped 13%, while Advanced Micro Devices added 9% and hit $1 trillion in market cap. Others such as Qualcomm increased 6%.
However, diplomacy between the U.S. and Iran could still be on the table in the near term, as President Donald Trump told Fox News he would probably be open to meeting with Iranian President Masoud Pezeshkian during this week’s UN General Assembly.
That could heighten the significance of a key summit this week between Trump and Chinese President Xi Jinping, which will cover AI, tariffs and critical minerals, among other economic issues. Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng ahead of the visit.
Prices for the 10-year Treasury bounced, lowering yields to 4.95% from Friday’s 5.01%. Treasury prices and yields move in opposite directions.
Oil prices retreated $4.69 to $95.82 U.S. a barrel.
Gold prices went south $40.80 to $4,384.10 U.S. an ounce.
