Highlights
Dip-buying in AI and technology shares fueled a massive advance in stocks on Monday after the shares were routed last week. A plunge in oil prices on hopes for calm in the Mideast helped bond yields decline, another plus for the broad market.
The Dow Jones industrial average rallied 2.2 percent, the S&P 500 gained 2.4 percent and the Nasdaq surged 2.7 percent. Bond yields rose despite the oil price decline as investors brace for US consumer price figures due on Tuesday while the dollar dropped.
Stocks saw a big risk-on day as oil prices dropped after President Trump said resumption of attacks on Iran were unlikely and investors seized on other reports suggesting progress toward a diplomatic settlement. AI stocks led the rebound despite losses in Nvidia after reports suggested Anthropic would proceed with its IPO and other bullish headlines from AI firms.