Stock futures rise slightly after Dow posts third straight losing week: Live updates - CNBC
U.S. stock markets rebounded on Monday, led by gains in AI-related technology stocks like Intel and AMD. The market recovery occurred despite ongoing geopolitical tensions in the Middle East and recent Federal Reserve interest rate hikes.
Why it matters
The performance of AI-linked tech stocks continues to be a primary driver of broader market sentiment, even amidst macroeconomic uncertainty and global conflict.
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 S&P 500 climbed 1.49% to end at 7,764.70, while the Nasdaq Composite gained 2.26% for a record close of 27,122.09 — its first since June . The Dow Jones Industrial Average added 366.19 points, or 0.71%, to settle at 52,048.83.
The broader market was supported by a rise in artificial intelligence-related stocks. Shares of Intel popped 12%, while Advanced Micro Devices added about 10% and hit $1 trillion in market cap. Others such as Qualcomm increased more than 9% as well.
Last week, the Dow slid 1.7% for its worst performance since March. The S&P 500 was off about 0.1%. Only the tech-heavy Nasdaq posted a gain, up 0.7%.
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