WASHINGTON (dpa-AFX) - Stocks have moved sharply higher during trading on Monday, extending the rebound seen during last Friday's session. The major averages have all shown strong moves to the upside, with the tech-heavy Nasdaq leading the charge.
Currently, the major averages are just off their highs of the session. The Nasdaq is up 623.39 points or 2.5 percent at 25,202.82, the S&P 500 is up 152.24 points or 2.1 percent at 7,529.10 and the Dow is up 872.12 points or 1.7 percent at 52,157.85.
The rally on Wall Street comes as traders continue to pick up stocks at relatively reduced levels following the historic sell-off seen last Thursday.
Technology stocks are leading the way higher once again, helping the Nasdaq recover further from its lowest levels in over six months.
Buying interest has also been generated in reaction to a steep drop by the price of crude oil, with U.S. crude oil futures plunging by nearly 3 percent.
Crude oil futures are under pressure after President Donald Trump said he was 'highly unlikely' to order more attacks on Iran as long as talks continue on Iran's nuclear program and reopening the Strait of Hormuz.
However, Secretary of State Marco Rubio later told reporters that talks with Iran have not been very productive because the Iranian demands are 'outrageous and ridiculous and really not realistic.'
The extended recovery by tech stocks comes despite a sharp pullback by shares of Nvidia (NVDA), with the AI leader plunging by more than 5 percent.
The slump by Nvidia comes after the chipmaker said it would open an investigation into reports that CEO Jensen Huang was the target of a foreign intelligence effort.
Sector News
Networking stocks are extending the substantial rebound seen during last Friday's session, with the NYSE Arca Networking Index soaring by 7.3 percent. The index continues to rebound from the seven-month closing low set last Thursday.
Significant strength is also visible among semiconductor stocks, as reflected by the 7.1 percent spike by the Philadelphia Semiconductor Index.
Outside of the tech sector, airline stocks have also moved sharply higher amid the steep drop in crude oil prices, driving the NYSE Arca Airline Index up by 5.4 percent.
Gold, financial and retail stocks are also seeing considerable strength, moving higher along with most of the other major sectors.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Monday. Japan's Nikkei 225 Index surged by 2.3 percent, while South Korea's Kospi fell by 0.8 percent.
Meanwhile, the major European markets have all moved to the upside on the day. While the German DAX Index is up by 1.6 percent, the French CAC 40 Index is up by 1.2 percent and the U.K.'s FTSE 100 Index is up by 0.9 percent.
In the bond market, treasuries have moved modestly lower over the course of the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 1.3 basis points at 4.872 percent.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
