U.S. stocks climbed on Monday as falling oil prices and renewed enthusiasm for technology stocks helped Wall Street start the week on stronger footing. The Nasdaq Composite surged about 2%, while the S&P 500 gained 0.6% and the Dow Jones Industrial Average rose 0.2%, with AI and semiconductor stocks driving much of the upside.
Investors also welcomed easing pressure from the bond market, with the 10-year Treasury yield slipping back below 5%. Attention is now turning toward this week’s U.S.-China summit, where trade and technology are expected to be major topics, while oil’s retreat below $100 offered another boost to risk appetite.
Market Movers:
- Warner Bros. Discovery (WBD) +7% and Paramount Skydance (PSKY) +5%: Shares rallied amid reports that Paramount is discussing a $1.5 billion investment in California film and television production as part of potential concessions surrounding its proposed Warner Bros. Discovery acquisition. Other measures reportedly under discussion include keeping both studio lots in California, production commitments and potential cable asset sales as the companies work to address legal challenges to the deal.
- Accenture (ACN) +6%: Shares jumped after Accenture and Anthropic announced a partnership focused on testing the safety of advanced AI models, with the companies expected to invest at least $1 billion each over five years. Accenture plans to assemble a dedicated team spanning AI, cybersecurity and industry expertise, opening another potential growth avenue as demand for independent AI evaluation expands.
- Coinbase (COIN) +5%: Shares gained after Coinbase expanded into primary financial markets by allowing eligible U.S. retail customers to request IPO allocations at the offering price before trading begins. Oura will become the first IPO available through the new feature, pushing Coinbase further beyond crypto trading and into traditional financial services.
- Almonty Industries (ALM) +5%: Shares rose after the company received final South Korean approvals to begin commercial operations at its Sangdong tungsten mine processing and crushing facilities. The milestone clears Almonty to begin domestic and export sales and establishes another non-Chinese source of tungsten for Western industrial customers.
- Meta Platforms (META) +5%: Shares jumped after Wells Fargo raised its price target to $796 from $640 while maintaining an Overweight rating, citing expectations for durable AI-driven growth. Meta also unveiled Petal, a high-capacity subsea cable connecting the U.S. and France, as the company continues expanding the infrastructure supporting its AI ambitions.
- Telix Pharmaceuticals (TLX) -11%: Shares plunged after the company agreed to acquire Germany-based ITM Isotope in a transaction valued at $1.65 billion. Telix expects the combination to create a vertically integrated radiopharmaceutical business with more than $1.3 billion in pro forma 2026 revenue, but investors reacted negatively to the deal’s size and financing structure.
- Novo Nordisk (NVO) -6%: Shares fell despite the drugmaker outlining ambitious 2030 targets that include $23 billion in obesity sales and more than five potential blockbuster launches. Investors remained focused on intensifying competition in obesity treatments and the eventual loss of U.S. patent exclusivity for semaglutide.
Oil Slides as Supply Fears Ease
Oil prices fell sharply Monday, with Brent and U.S. crude briefly slipping below $100 per barrel as Saudi exports improved and investors watched for possible diplomatic progress surrounding the Middle East conflict. The decline offered welcome relief after elevated energy prices intensified inflation concerns and helped drive Treasury yields higher. Lower crude could reduce some of that pressure if the retreat proves sustainable, giving both the Fed and equity investors more breathing room.
AI and Chip Stocks Reclaim the Spotlight
Technology stocks led Monday’s rally as investors returned to the AI trade following recent volatility. Intel climbed more than 5%, while Meta, Marvell and Dell also advanced as markets focused on evidence that spending on AI infrastructure remains strong.
The rebound comes after warnings surrounding advanced AI development triggered heavy selling across technology stocks earlier this month. Monday’s gains suggest investors are once again focusing on the enormous capital spending flowing into chips, data centers and AI infrastructure rather than the broader concerns that recently pressured the sector.
U.S.-China Summit Moves Into Focus
Markets are also looking ahead to this week’s U.S.-China summit after officials from the two countries held preparatory talks over the weekend. Trade, AI and geopolitical issues are expected to feature prominently in the discussions.
For investors, the immediate focus will be whether the meeting produces signals that the existing trade truce can be extended. Reduced trade friction between the world’s two largest economies could provide another tailwind for semiconductor, technology and industrial stocks that remain particularly sensitive to changes in U.S.-China relations.
Looking Ahead
Monday’s rally is giving Wall Street a strong start to the week, but several major catalysts remain ahead. The U.S.-China summit, additional Fed commentary and developments in the Middle East could quickly reshape expectations for trade, inflation and interest rates. For now, falling oil prices and Treasury yields are easing two of the market’s biggest recent pressure points, while renewed strength in AI stocks is helping the Nasdaq lead the rebound. Whether that momentum lasts could depend on whether this week’s diplomatic developments reinforce — or disrupt — the improving risk backdrop.