A rebound for AI stocks lifted the U.S. market.
The S&P 500 rose 0.7% Monday and pulled within 1% of its record, even though the majority of stocks within the index fell. The strength for AI sent the Nasdaq composite up 1.1%, and the Dow Jones Industrial Average added 0.3% to a record.
Broadcom was one of the strongest forces lifting the market after falling more than 2% on both Wednesday and Thursday. Treasury yields and oil prices eased a bit.
Stock indexes dipped modestly across much of Europe and Asia outside of a strong gain for Hong Kong.
On Monday:
The S&P 500 rose 54.19 points, or 0.7%, to 7,537.43.
The Dow Jones Industrial Average rose 155.84 points, or 0.3%, to 53,055.91.
The Nasdaq composite rose 288.49 points, or 1.1%, to 26,121.16.
The Russell 2000 index of smaller companies rose 13.43 points, or 0.4%, to 3,009.54.
For the year:
The S&P 500 is up 691.93 points, or 10.1%.
The Dow is up 4,992.62 points, or 10.4%.
The Nasdaq is up 2,879.17 points, or 12.4%.
The Russell 2000 is up 527.63 points, or 21.3%.
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