FX.co ★ US Stocks Rebound Further

U.S. stocks made further progress on Monday afternoon as the previous week’s intense selloff in precious metals and cryptocurrencies showed signs of abating. This shift allowed investors to concentrate once more on earnings momentum and the influence of large-cap stocks. The S&P 500 saw an increase of approximately 0.8%, the Dow climbed around 1.2%, and the Nasdaq 100 progressed nearly 1%. Technology and growth stocks were at the forefront, with notable performances from Apple, which surged over 3%, AMD, which rose nearly 5%, and Micron, which jumped in excess of 5%. Similarly, Alphabet and Amazon traded positively, poised for their earnings announcements later in the week. Oracle experienced a slight decline after its recent uptick tied to its ambitious $50 billion capital-raising strategy. In contrast, Nvidia fell about 2%, with its $100 billion OpenAI investment remaining uncertain. Cyclical sectors provided additional reinforcement, with advances in industrial and financial stocks, highlighted by a nearly 5% rise in Caterpillar and overall strength in major banks. Conversely, energy stocks lagged behind due to ongoing decreases in oil prices.