S&P 500 rebounds after soft open, posts another record close with help from Nvidia
The S&P 500 reached new heights on Monday, led by a move higher in Nvidia, as a recent partnership announcement with OpenAI fueled investor optimism about the future of artificial intelligence.
The broad market index ended the day up 0.44% at 6,693.75, while the Nasdaq Composite jumped 0.70% to finish at 22,788.98. The Dow Jones Industrial Average climbed 66.27 points, or 0.14%, to settle at 46,381.54. Along with the S&P 500, the Nasdaq and Dow had hit new all-time intraday highs during the session and closed at record highs.
While stocks began the trading day lower, they ultimately finished the day higher, being propped up by Nvidia and others. Shares of the AI chip darling advanced 3.9% after the company said it’s going to invest $100 billion in OpenAI for the buildout of data centers. The new deal could signify that the AI trade will continue to “drive EPS and share price growth into 2026 and beyond,” according to Sam Stovall, chief investment strategist at CFRA Research.
Fellow AI-related name Oracle was also a winner Monday after the software giant announced that it has promoted Clay Magouyrk and Mike Sicilia to co-CEOs as Safra Catz takes a step back to serve as executive vice chair on the company’s board. Oracle’s 6% climb Monday adds to the stock’s sizable 45% run this month.
Apple shares similarly saw a meaningful 4% boost on enthusiasm about new iPhone sales.
Source : Cnbc.com
