The Dow Jones Industrial Average overcame a nearly 500-point intraday loss Monday as technology names like Microsoft rallied amid falling interest rates.
The 30-stock index recovered 238.06 points, to 34,049.46.
The S&P 500 restocked 24.34 points to 4,296.12
The NASDAQ Composite leaped 165.56 points, or 1.3%, to 13,004.85.
Tech shares rebounded as rates fell, providing support to the major averages. Microsoft rose 2.4%, the second-biggest gainer on the Dow.
Google-parent Alphabet also gained nearly 2.9%, and Facebook-parent Meta added about 1.6% ahead of quarterly earnings reports slated for later this week.
Twitter jumped roughly 5.7% after the social media company announced it accepted billionaire Elon Musk’s buyout deal valued at about $44 billion.
Wall Street is bracing for a stacked week of earnings, particularly reports from major technology companies.
About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on results from mega-cap tech names, including Amazon, Apple, Alphabet, Meta Platforms and Microsoft.
Coca-Cola shares closed up nearly 1.1% after the company reported better-than-expected quarterly earnings before the bell Monday.
Energy shares retreated, comprising the worst-performing S&P 500 sector Monday. Chevron fell about 2.2% and was the second-biggest decliner on the Dow. Exxon Mobil lost nearly 3.4%.
About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on reports from mega-cap tech names, including Amazon, Apple, Alphabet, Meta Platforms and Microsoft.
Treasury prices slouched, springing yields up to 2.82% from Friday’s 2.9%. Treasury prices and yields move in opposite directions.
Oil prices subtracted $3.27 at $98.80 U.S. a barrel.
Gold prices dipped $35.30 to $1,899 U.S. an ounce.