US stock indices closed higher on Monday as Treasury yields retreated, briefly easing worries about a challenging macroeconomic backdrop and fueling a renewed rally in technology shares. The S&P 500 advanced 1.5%, the Nasdaq climbed 2.3% to a record close of 27,122, and the Dow gained 366 points.
President Trump said he would be open to meeting his Iranian counterpart, Masoud Pezeshkian, on the sidelines of the UN General Assembly. At the same time, observed Saudi oil loadings from within the Persian Gulf jumped over the weekend.
Crude oil and refined product prices continued to retreat from their monthly peaks, easing recent pressure on the bond market. Lower funding costs improved the outlook for AI hyperscalers to keep issuing debt at record levels, bolstering chipmakers and AI infrastructure stocks. Additional optimism over future chip demand was driven by signs of early success for Meta’s (+11.4%) new AI agent. AMD surged 9.9%, closing above a $1 trillion market capitalization for the first time, while Intel rallied 12.1%.
