The S&P 500 and the Nasdaq Composite rose on Monday, boosted by a rally in semiconductor stocks and a report that suggested the incoming Trump administration could adopt a less aggressive tariff stance than expected.
According to preliminary data, the S&P 500 (.SPX), gained 32.96 points, or 0.56%, to end at 5,975.98 points, while the Nasdaq Composite(.IXIC), gained 243.30 points, or 1.24%, to 19,864.98. The Dow Jones Industrial Average (.DJI), fell 22.40 points, or 0.05%, to 42,709.73.
Most of the 11 S&P 500 sectors ended lower, but communication services (.SPLRCL), and tech stocks (.SPLRCT), climbed.
Chipmakers got a boost from Microsoft's (MSFT.O), plan to invest $80 billion to develop artificial-intelligence-enabled data centers, as well as Foxconn's (2317.TW), forecast-beating fourth-quarter revenue.
Nvidia (NVDA.O), Advanced Micro Devices (AMD.O), and Micron Technology (MU.O), rose. The Philadelphia Semiconductor index (.SOX), jumped.
Tech stocks rose despite benchmark 10-year Treasury yields reaching the highest since May.
U.S. stocks had rebounded sharply on Friday after a string of losses in December and the first few sessions of January, when concerns about high valuations, rising Treasury yields and thin liquidity saw traders pull back after a strong 2024 run.
Source : Reuters
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