From The Economic Times · · 1m 20s
US Stocks Rebound as AI Stocks Recover
AI-linked stocks rebound after steep selloff as US markets climb ahead of earnings.
In brief
AI-linked stocks rebound after steep selloff as US markets climb ahead of earnings. US stocks rose as AI stocks recovered following last week's sharp selloff ahead of major earnings reports. Originally reported by The Economic Times.
US Stocks Recover
US stocks rebounded Monday as technology and semiconductor shares attracted buyers after last week's steep selloff.
S&P 500 and Nasdaq Rise
S&P 500 gained 0.6% while Nasdaq 100 rose 1.2% in early trading, marking a recovery from last week's steep decline.
Semiconductor Stocks Lead
Semiconductor stocks led the recovery with the Philadelphia Semiconductor Index climbing 2.9% to end an eight session losing streak.
AI Stocks Rebound
Data centre, neocloud and optical companies also advanced as investors returned to AI-linked stocks following last week's sharp selloff.
Investor Confidence
Edison Byzyka, chief investment officer at Credent Wealth Management, said there will be a buying opportunity every time we see a day like Friday.
CoreWeave Gains
CoreWeave rose 3% after Goldman Sachs upgraded the cloud computing services provider to buy, citing revenue potential and tight supply.
SpaceX and Tesla Focus
SpaceX shares gained 2% after Elon Musk pledged to gift a share to every American child, while Tesla rose 1.9% amid possible combination speculation.
The key point
US stocks rose as AI stocks recovered following last week's sharp selloff ahead of major earnings reports.
