02.02.202621:03:50UTC+00S&P Rebounds to Record High

On Monday, the S&P 500 climbed by 0.6%, achieving a new record high. The Dow Jones Industrial Average increased by 1.1%, and the Nasdaq 100 rose by 0.7%, as US stocks continued their upward trend. The easing pressures from last week’s significant sell-off in precious metals and cryptocurrencies enabled investors to redirect their focus towards earnings momentum and large-cap market leaders. Significantly, technology and growth stocks led this upward movement, with Apple seeing a surge of over 3%, Advanced Micro Devices (AMD) rising nearly 5%, and Micron Technology increasing by more than 5%. Furthermore, Alphabet and Amazon were trading higher, buoyed by anticipation of their earnings reports due later in the week. Meanwhile, Oracle saw a slight decline following gains associated with its $50 billion capital-raising initiative, and Nvidia dipped approximately 2% amidst ongoing uncertainty over its delayed $100 billion OpenAI investment. Moreover, cyclical sectors contributed to the positive performance, with industrial and financial stocks on the rise—Caterpillar notably gaining nearly 5%—and major banking institutions showing strength. Conversely, energy stocks lagged behind due to continued drops in oil prices.