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The NASDAQ Composite rose on Monday as traders moved back into tech following last week’s artificial intelligence-related rout.
The Dow Jones Industrial index slid 36.38 points to 51,966.03
The S&P 500 index moved higher 31.29 points to 7,609.73
The tech-heavy index sprang 290.85 points, or 1.1%, to 26,430.89.
Intel advanced 2% after JPMorgan analysts upgraded their rating on the chipmaker. Advanced Micro Devices gained 1% and Micron Technology was up 2%.
However, neocloud mainstay CoreWeave reversed course from earlier gains, falling 3%, even after receiving an upgrade at Goldman Sachs.
The stock plunged more than 25% last week — its biggest one-week drop since November 2025 — over debt concerns.
It was the most net sold global sector last week, with hedge funds selling the largest percentage of tech on record, per Goldman Sachs.
Concerns around the health of the AI trade took center stage reports, that Anthropic’s third-quarter revenue totaled $16.8 billion. And while that’s up from $11.6 billion in the second quarter, it raised flags among investors about the pace of growth with the AI build-out.
Traders were also keeping a wary eye on oil markets with ship attacks in the Persian Gulf picking up and Ukraine and Russia trading attacks on energy infrastructure. Ukraine hit an oil terminal in St. Petersburg, Russia on Sunday. Longer-dated oil futures have begun to ratchet higher on expectations energy infrastructure disruptions may last well into 2027.
Prices for the 10-year Treasury were lower, driving up yields to 5.14% from Friday’s 5.09%. Treasury prices and yields move in opposite directions.
Oil prices reversed and gained $2.23 to $103.64 U.S. a barrel.
Gold prices subtracted $20.20 to $4,160.90 U.S. an ounce.
