Stocks close higher: Nasdaq hits a record 27,122 and the S&P 500 gains 1.5% as oil drops 4.5%
Chip stocks and Meta led a broad rally as crude fell below $100 and Treasury yields eased. It was the Nasdaq's first record close since June.
Stocks finished Monday firmly higher, led by technology. The Nasdaq Composite rose 2.26% to 27,122.09, its first record close since June, while the S&P 500 gained 1.49% to 7,764.70 and the Dow Jones Industrial Average added 366.19 points, or 0.71%, to 52,048.83, according to CNBC and Yahoo Finance. The Russell 2000 rose 0.52% to 2,875.36.
| Index | Close | Change |
|---|---|---|
| S&P 500 | 7,764.70 | +1.49% |
| Nasdaq Composite | 27,122.09 | +2.26% |
| Dow Jones Industrial Average | 52,048.83 | +366.19 (+0.71%) |
| Russell 2000 | 2,875.36 | +0.52% |
Chips and Meta did the heavy lifting
AI-linked names drove the day. Intel jumped 12%, Advanced Micro Devices added about 10% and crossed $1 trillion in market value, and Qualcomm rose more than 9%, CNBC reported. Meta Platforms gained 11%, per Yahoo Finance. We covered both moves earlier: Meta's jump and AMD's $1 trillion milestone.
The rebound follows a rough week. The Dow fell 1.7% last week, its worst since March, and posted its third straight weekly loss.
Oil and yields gave stocks room
U.S. crude fell 4.5% to $95.78 a barrel and Brent slid 3.4% to $100.34, according to CNBC, as hopes for renewed U.S.-Iran diplomacy offset weekend attacks on Saudi Arabia. Chart: crude oil. Cheaper crude has not reached the diesel pump yet: diesel hit a record on Monday.
Bond yields followed oil lower. The Treasury's official 10-year yield closed at 4.96%, down from 5.01% on Friday, and the 2-year held at 4.76% (Treasury data). The 10-year steers mortgage rates, so a pullback matters to borrowers. Chart: 10-year T-note.
Crypto joined the rally
Bitcoin traded at about $86,963 on Coinbase after the close, up 7.3% over 24 hours, and Ether was near $2,791, up 6%. Yahoo Finance said bitcoin reached an eight-month high, lifting Strategy and Coinbase shares. Details in today's crypto report.
What traders are watching
The Fed raised rates last week for the first time in three years, and higher energy prices keep further hikes in play. The week's main event is Thursday's meeting between President Trump and Chinese President Xi Jinping, expected to cover tariffs, AI and critical minerals. Flash PMIs come Wednesday and jobless claims Thursday. See the calendar and live levels on the markets board.
Sources: CNBC, Yahoo Finance, U.S. Treasury, Coinbase Exchange. Closing figures as reported after the 4 p.m. ET close; crypto prices at 4:36 p.m. ET. This is market information, not investment advice.
Want your business to be the answer?
Get a full package of articles about your business, built so customers, Google and AI assistants can find you.