US equities rose on Monday after undergoing volatility last week as markets reconsidered the space on the speculative AI trade and an improving macroeconomic backdrop.
The Nasdaq 100 gained 1%, the S&P 500 added 0.7% and the Dow rose 150 points to test its record above 52,000.
Oil and fuel prices broadly maintained the retreat that triggered a plunge in Treasury yields last week, improving credit conditions for the US corporate sector.
In the meantime, markets repivoted to long positions on the AI trade, both in the hyperscale side and the chip-producer side, with Nvidia, Intel, Microsoft, Amazon, and Meta adding around 2%.
Both subsectors were volatile last week as strong outlooks from semiconductor manufacturers clashed against cash-raising at levels that are increasingly difficult to reason, led by fresh debt issuance by SpaceX. Meanwhile, Comcast surged over 20% as it will spin-off NBCUniversal into a new media firm.