Yahoo Finance
US stocks rebounded on Monday morning, with tech stocks leading a broad bounce back from Friday's bruising session.
Meanwhile, strikes between Iran and Israel put pressure on a fragile ceasefire in the Middle East, and investors continued to reprice rate-hike bets and assess the artificial intelligence trade.
The Dow Jones Industrial Average (^DJI) moved up 0.3%.
The benchmark S&P 500 (^GSPC) rose roughly 1% as the tech-exposed Nasdaq Composite (^IXIC) jumped 1.6% to lead gains.
Markets start the week on strong footing even after the Nasdaq Compositedropped 4% on Fridayand the S&P 500 snapped its nine-week winning streak.
A strong rotation out of high-flying semiconductor stocks and into more defensive areas of the market came on the heels of a blowout May jobs report thatstrengthened the case for the Federal Reserve to raise interest rateslater this year.
The Nasdaq stepped into a rebound on Monday as Nvidia (NVDA) CEO Jensen Huang and others suggested the tech rout could be an opportunity to buy into the AI trade.
Chip stocks gained at the opening bell, with Micron (MU) up 9% and Nvidia adding 2%.
Elsewhere,oil prices flaredafter Iranfired missiles at Israelfor the first time since April, and Israel struck back despite President Trump's calls for both sides to stop fighting.
Brent futures (BZ=F) climbed as much 4% to almost $98 a barrel before cooling off, while West Texas Intermediate futures (CL=F) neared $95 a barrel amid revived concerns that a US ceasefire with Iran could fall apart to return open conflict in the Middle East.
Investors will get a better sense of whether higher oil prices are starting to bleed into core prices on Wednesday with the release of the latest monthly Consumer Price Index.
The Fed's focus will be squarely on inflation after a batch of jobs data last week showed the labor market remains stable.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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