US Stocks Extend Gains

US stocks rose further on Monday with support from a rebound in Treasury securities. The S&P 500, Dow, and Nasdaq 100 rose over 1%. The US refrained from striking Iran over the weekend and fuel prices pulled back, lowering yields across the curve as markets readjusted the magnitude of inflation risks. AI hyperscalers rose sharply with the rebound in risk demand, with Amazon, Alphabet, and Microsoft soaring 5%, while Nvidia gained 3%. Meanwhile, Bristol-Myers Squibb surged nearly 10% amid reports that it could be acquired by AstraZeneca. In turn, chip producers extended their volatile momentum as markets consistently reconsider their speculative exposure and overleveraged investors liquidate positions at likely discounts. Micron, Texas Instruments, and Seagate booked losses. Meanwhile, SpaceX and AMD were 1% lingered higher ahead of their earnings tomorrow.

The Dow Jones Index is up by 640 points or 1.22 percent on Monday. Top gainers are Microsoft (5.21%), Amazon (5.09%) and Alphabet (3.98%).

US stocks rose on Monday with support from a rebound in Treasury securities. The S&P 500 rose 0.5%, the Dow added over 600 points, and the Nasdaq inched higher. The US refrained from striking Iran over the weekend and fuel prices pulled back. The moves drove yields to decline across the curve as markets readjusted inflationary risks, supporting credit-sensitive equity sectors. Bank holding companies were higher, with JPMorgan, Bank of America, Visa, and Goldman Sachs gaining over 1%. Large-cap tech companies also gained, with Amazon soaring 5%. Meanwhile, Bristol-Myers Squibb surged nearly 10% amid reports that it could be acquired by AstraZeneca. In turn, chip producers extended their volatile momentum as markets consistently reconsider their speculative exposure and overleveraged investors liquidate positions at likely discounts. Micron and Sandisk dropped over 4%, setting the pace for memory chip producers. Meanwhile, SpaceX and AMD were 1% down ahead of their earnings tomorrow.