(Sharecast News) - Major indices moved higher on Monday as gains across major technology names combined with softer oil prices and easing Treasury yields to help Wall Street rebound from a mostly lower week.
At the close, the Dow Jones Industrial Average was up 0.71% at 52,048.83, while the S&P 500 advanced 1.49% to 7,764.70 and the Nasdaq Composite saw out the session 2.26% firmer at 27,122.09.
The Dow closed 366.19 points higher on Monday, extending gains recorded in the previous session after a volatile week marked by big swings in the oil and bond markets and three major central bank decisions, including the Federal Reserve's first rate hike in three years.
A pullback in crude prices boosted sentiment on Monday, with West Texas Intermediate down 4.51% to $95.78 a barrel and Brent crude down 3.64% to $100.09. The moves followed a renewed flareup in Middle East tensions after Iranbacked Houthi forces claimed missile and drone attacks on Saudi Arabia over the weekend, prompting Washington to advise Americans to reconsider travel to the region as both sides exchanged warnings over potential further strikes. Even so, Donald Trump told Fox News he would likely be open to meeting Iranian president Masoud Pezeshkian during this week's UN General Assembly.
Treasury yields eased alongside the drop in crude, with the 10year falling more than four basis points to 4.956% and the 30year note down almost four basis points at 5.286%.
Traders were also looking ahead to a key summit between Trump and China's Xi Jinping later in the week, with discussions expected to cover artificial intelligence, tariffs, critical minerals and broader economic ties. Ahead of the meeting, Treasury Secretary Scott Bessent held talks with Chinese vicepremier He Lifeng.
On the macro front, US economic activity softened in August, according to new data from the Chicago Federal Reserve, with its national activity index slipping back into negative territory. The Chicago Fed National Activity Index fell to -0.04 from +0.08 in July, with two of the four broad indicator categories weakening on the month and one making a negative contribution.
However, the threemonth moving average still managed to edge up to +0.01 from -0.01, suggesting underlying activity was broadly flat. The diffusion index, also a threemonth measure, eased to +0.02 from +0.04. Of the 85 individual indicators tracked, 39 made positive contributions in August and 46 negative, while 34 improved on the month and 49 deteriorated.
As far as equities were concerned, the broader market was lifted by strength in artificialintelligencelinked shares, with Intel jumping 12%, while Advanced Micro Devices surged about 10% and briefly hit a $1trn market valuation. Qualcomm also advanced more than 9% as investors rotated back into the sector.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $121.78 11.29%
Amgen Inc. (AMGN) $393.16 2.12%
Goldman Sachs Group Inc. (GS) $959.39 1.85%
Merck & Co. Inc. (MRK) $149.50 1.79%
Nike Inc. (NKE) $36.10 1.66%
Microsoft Corp. (MSFT) $501.61 1.57%
Walt Disney Co. (DIS) $104.23 1.52%
Boeing Co. (BA) $201.15 1.49%
International Business Machines Corporation (CDI) (IBM) $231.93 1.04%
Caterpillar Inc. (CAT) $816.50 0.93%
Dow Jones - Fallers
Chevron Corp. (CVX) $203.67 -2.79%
Dow Chemical Co. (DOW) $28.27 -1.60%
Coca-Cola Co. (KO) $87.12 -1.28%
Travelers Company Inc. (TRV) $371.13 -0.93%
Home Depot Inc. (HD) $297.20 -0.93%
Verizon Communications Inc. (VZ) $47.68 -0.85%
Salesforce.Com Inc. (CRM) $236.42 -0.63%
3M Co. (MMM) $164.97 -0.55%
Procter & Gamble Co. (PG) $146.08 -0.21%
Johnson & Johnson (JNJ) $269.47 -0.19%
S&P 500 - Risers
Advanced Micro Devices Inc. (AMD) $615.52 12.29%
Intel Corp. (INTC) $121.78 11.29%
Akamai Technologies Inc. (AKAM) $117.41 11.13%
Applied Materials Inc. (AMAT) $464.24 9.55%
Meta Platforms Inc. (META) $741.24 9.28%
Lam Research Corp. (LRCX) $302.28 8.87%
KLA-Tencor Corp. (KLAC) $183.97 7.70%
United Airlines Holdings Inc (UAL) $114.39 6.61%
Corning Inc. (GLW) $158.98 5.89%
Seagate Technology Plc (STX) $877.33 5.89%
S&P 500 - Fallers
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Mohawk Inds Inc. (MHK) $117.27 -7.00%
HF Sinclair Corporation (DINO) $109.29 -5.70%
Marathon Petroleum Corporation (MPC) $402.38 -5.30%
Valero Energy Corp. (VLO) $393.27 -4.84%
Charter Communications Inc. (CHTR) $123.35 -4.65%
eBay Inc. (EBAY) $108.30 -4.51%
United Parcel Service Inc. (UPS) $94.75 -4.35%
HP Inc (HPQ) $32.95 -4.22%
Phillips 66 Common Stock (PSX) $261.75 -4.17%
Nasdaq 100 - Risers
Intel Corp. (INTC) $121.78 11.29%
Applied Materials Inc. (AMAT) $464.24 9.55%
Meta Platforms Inc. (META) $741.24 9.28%
Lam Research Corp. (LRCX) $302.28 8.87%
KLA-Tencor Corp. (KLAC) $183.97 7.70%
Seagate Technology Plc (STX) $877.33 5.89%
Micron Technology Inc. (MU) $1,043.96 5.71%
Microchip Technology Inc. (MCHP) $74.78 4.91%
American Airlines Group (AAL) $13.57 4.83%
Cadence Design Systems Inc. (CDNS) $294.90 4.79%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Charter Communications Inc. (CHTR) $123.35 -4.65%
eBay Inc. (EBAY) $108.30 -4.51%
CSX Corp. (CSX) $45.99 -3.17%
Incyte Corp. (INCY) $124.65 -2.61%
PACCAR Inc. (PCAR) $114.73 -2.10%
Cognizant Technology Solutions Corp. (CTSH) $59.38 -1.90%
O'Reilly Automotive Inc. (ORLY) $82.88 -1.85%
Gen Digital Inc. (GEN) $29.15 -1.84%
Biomarin Pharmaceutical Inc. (BMRN) $64.06 -1.69%
79.88 (0.75%)
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