Markets
Nasdaq leads a narrow tech rebound as the rest of the market lags
AI names recovered part of last week's rout on Monday, but most stocks outside technology finished lower.
HedgeWeekly News Desk ·
The Nasdaq Composite rose 1.1% on Monday to 26,430.89, recovering part of the ground lost in last week's AI-led sell-off. The S&P 500 added 0.4% to 7,690.73, while the Dow Jones Industrial Average slipped 0.1% to 51,966.03 after swinging either side of flat through the session. The Russell 2000 gained 0.3%.
The gains were concentrated. Amazon jumped almost 5% after Morgan Stanley named it a top pick, and Palantir, Tesla and Micron each added between 3% and 4.5%. Storage names were strong too, with Western Digital and SanDisk both up more than 5%. Outside technology, most of the market finished in the red.
The rebound came against a difficult backdrop. Bond yields rose around the world, European shares fell more than 1% after violent protests in France, and US crude climbed on fresh Houthi attacks on Saudi targets. The week ahead brings earnings from Netflix, Tesla, Meta and IBM, which will test whether investors are ready to buy back into the AI trade.