The S&P 500 closed at 7,549.94 in its strongest session since April 8
US technology shares rebounded on Monday, carrying the S&P 500 up 2.35 percent to 7,549.94 in its best session since April 8, as crude prices fell.
CNBC reported the Dow Jones Industrial Average gained 1,104.02 points, or 2.15 percent, to 52,389.75, and the Nasdaq Composite added 2.74 percent to 25,253.14.
The rally leaves the S&P 500 3.4 percent below the all-time high it set last month, according to AP News.
US West Texas Intermediate futures dropped 4.38 percent to settle at US$86.85 per barrel and international benchmark Brent slid 5.85 percent to US$92.57, CNBC reported.
Brent has fallen from more than US$112 at the start of the month amid uncertainty over the war with Iran, AP News reported, after US President Donald Trump told CNN over the weekend that a resumption of strikes is “highly unlikely” if the United States sees progress in negotiations.
Last week’s sell-off followed Democratic victories in the US midterm elections, which raised concern that governments could restrict data centre construction and cut purchases of artificial intelligence chips and electricity, AP News reported.
The cost of borrowing to fund further construction and claims that AI stock prices had entered bubble territory were weighing on the sector before that, per the same report.
Technology held a greater than 35 percent weight in the S&P 500 as of Thursday’s close, above the share it reached at the height of the internet bubble in 2000, Reuters reported.
Citing LSEG Datastream, the outlet reported the sector’s forward price-to-earnings ratio fell to 17.1 that day, after rising above 32 in October 2025, against 17.9 for the S&P 500.
It was the first time since 2017 that tech has traded below the broader market.
“Because so much of technology is AI-sensitive, it’s going to have an impact on the entire sector, and that sector carries so much weight within the S&P 500,” Robert Pavlik, senior portfolio manager at Dakota Wealth Management, told Reuters.
Keith Lerner, chief investment officer at Truist Advisory Services, said the drop in valuations means “arguably ... the market is already pricing in a lot of bad news,” according to Reuters.
“We are moving toward a situation where a little good news could go a long way,” Lerner wrote in a Thursday note carried by the publication.
Nvidia shares closed down 4 percent, CNBC reported, after the board announced Sunday that it is investigating co-founder and chief executive Jensen Huang’s relationship with a businesswoman who US intelligence agencies say is a Chinese spy.
AP News, which recorded the decline as 4.3 percent, reported the board said it has “no reason to believe” that either national security or Nvidia secrets were compromised.
Advanced Micro Devices jumped 13 percent and Broadcom rose nearly 9 percent, according to CNBC, while the iShares Semiconductor ETF, down around 13 percent last week, gained more than 7 percent.
The chip sell-off was “overdone,” Jay Hatfield, chief executive at Infrastructure Capital Advisors, told CNBC, though he called the turmoil “partially correct” given a “policy overhang from the Democrats.”
He expects the S&P 500 to be rangebound through the end of the year. “It’s not like the coast is clear,” Hatfield said.
The yield on the 10-year US Treasury inched up to 4.87 percent from 4.86 percent late Friday, AP News reported, well below the peak above 5.30 percent it touched last month.
CoreWeave reports results on Tuesday, Nvidia on November 17, and Dell on November 24, according to Reuters.
The US consumer price index is due Tuesday and the producer price index on Friday, CNBC reported.
