Yahoo Finance
Tech stocks led the stock market higher on Monday as oil prices fell, bitcoin (BTC-USD) pricessurged above $85,000, and chip stocks rallied ahead of AI leaders' dinner with Chinese President Xi Jinping later this week.
The tech-heavy Nasdaq Composite (^IXIC) saw the strongest gains, climbing 1.5% as semiconductor stocks.
The S&P 500 (^GSPC), meanwhile, gained 0.9%.
The Dow Jones Industrial Average (^DJI) rose 0.3% after the blue-chip index posted itsthird straight weekly loss.
Sentiment went risk-on during Monday's trading session as oil pricesretreated below $100 per barrelamid hopes that the US and Iran would resume diplomatic talks.
Bitcoin also jumped to an eight-month high, lifting crypto-related stocks like Strategy (MSTR) and Coinbase (COIN).
Stocks have powered through a wall of worry during this historically weak month, remaining resilient despite rising bond yields, geopolitical risk in the Middle East, growing bets on Fed rate hikes, and AI jitters.
With a sparser economic and earnings calendar this week, one thing markets will be closely watching is the summit between President Trump and Chinese President Xi Jinping on Thursday.
The high-stakes talks are expected to focus on extending the tariff truce and cooperation on artificial intelligence.
Several AI leaders, including Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman, former Apple CEO Tim Cook, Qualcomm Inc.
CEO Cristiano Amon, and Microsoft CEO Satya Nadella, will alsoattend a dinnerwith the Chinese president.
Wall Street executives Citigroup CEO Jane Fraser and JPMorgan Chase CEO will also join, Yahoo Finance has learned.
| 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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