S&P 500, Nasdaq climb as AI-linked stocks recover ahead of earnings
The S&P 500 and Nasdaq Composite surged on Monday as AI-linked stocks recovered following a sharp decline last week. Easing oil prices further bolstered the market ahead of crucial earnings reports. Both indexes experienced their largest weekly drop since late June, as higher interest rates dampened enthusiasm for AI infrastructure investments.
The Dow industrials, however, suffered modest declines. Chipmakers Broadcom and Micron led the rally, while Amazon.com saw a 2.3% increase after receiving a top pick rating from Morgan Stanley. CoreWeave, impacted by its $50 billion debt load, saw a rebound after Goldman Sachs upgraded it to a buy. Analysts expect Meta, Tesla, and SpaceX to report earnings, which will provide insight into market vulnerabilities.
The Dow Jones fell 102.02 points, the S&P 500 gained 34.27 points, and the Nasdaq rose 249.13 points.
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- Nasdaq climbs as chip and AI-linked stocks bounce back koreatimes.co.kr
