Oil fell on Monday. Bond yields eased, semiconductor shares threw a get together, and the main stock market indexes confirmed up with potluck dishes.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed 1.8% as of 12:04 p.m. ET, the S&P 500 (SNPINDEX: ^GSPC) rose 1.2%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) managed 0.5%. The S&P is now roughly 1% from the file high it set last month, which appeared a lot further away on Friday.
Missed AI’s “Act 1”? Act 2 Could Be 15x Bigger. Most buyers think they missed the AI boat because they did not buy Nvidia in 2005. But according to our analysts, we’re only at the finish of “Act 1″—the R&D section. “Act 2” is the international rollout. Continue »
Crude backed down and everything else took off
Let’s begin with oil, since it impressed everything else.
The Saudi East-West pipeline may be out of commission for the next month, but the state-run Aramco oil company loaded seven giant tankers with oil over the weekend. Only a handful of vessels are shifting through the Strait of Hormuz, but the Saudis are pushing out some severe oil quantity anyhow. Brent crude dropped about 3.4% to $100.30 after flirting with $110 last week.
Lower oil lifted some stress from Treasury bonds too, with the 10-year yield sliding more than 3 foundation factors to 4.96%.
That gave technology room to run. Meta Platforms (NASDAQ: META) jumped 8.6% because it paired the bullish market temper with a contemporary success. The Muse AI agent topped free U.S. iPhone downloads for three straight days.
The same tidbit drove chip shares greater, too. Advanced Micro Devices (NASDAQ: AMD) rose 9.1% and Intel (NASDAQ: INTC) gained 14% on the idea that all those Muse customers will need somebody’s chips. Meta was the largest contributor to the Nasdaq Composite and S&P 500 indexes at this time.
Fun reality: AMD’s market cap crossed $1 trillion for the first time. Intel’s all-time peak is still just $707 billion. The tables have turned in Silicon Valley.
Crypto stored Friday’s momentum going, too. Bitcoin (CRYPTO: BTC) is back above $85,000 for the first time since January. This transfer does not have an effect on the stock indexes, but it underscores a bullish market sentiment.
This rally relies upon on crude staying down
So Wall Street is off to a good begin this week, but it’s not all rainbows and unicorns.
Two conferences this week could matter more than Monday’s oil low cost did.
-
Chinese President Xi Jinping visits the U.S. from Sept. 23 to 25 to discuss tariffs, AI, and important minerals. Treasury Secretary Scott Bessent described his weekend session with Vice Premier He Lifeng as a very profitable engagement. The two sides are discussing tariff cuts on $30 billion of items apiece.
-
Meanwhile, the U.N. General Assembly convenes, and Trump has floated the risk of assembly Iran’s president there.