US stocks closed higher, led by gains in the technology-heavy Nasdaq Composite and Nasdaq 100. Chip and AI-related stocks were among the strongest performers as investors positioned ahead of several important earnings reports this week.
The closing levels:
- Dow Industrial Average rose 160.02 points, or 0.30%, to 53,582.37
- S&P 500 rose 24.42 points, or 0.32%, to 7,677.27
- Nasdaq Composite rose 171.11 points, or 0.66%, to 26,151.30
- Nasdaq 100 rose 186.05 points, or 0.64%, to 29,209.23
- Russell 2000 rose 14.49 points, or 0.50%, to 3,010.02
Nvidia shares snapped a seven-day losing streak, rising 2.19% ahead of its earnings release after the close tomorrow. The results will be a major test for Nvidia and the broader AI trade, with investors focused on demand, margins and forward guidance.
Micron Technology gained 2.48%, while Marvell Technology rose 4.84%. Marvel is scheduled to report earnings on Thursday, keeping the chip sector firmly in focus through the remainder of the week.
The leading chip and AI-related gainers included:
- Lumentum Holdings: +6.67%
- Bloom Energy: +6.58%
- Nebius Group: +5.24%
- AMD: +4.91%
- Marvell Technology: +4.84%
- Coherent: +4.59%
- AppLovin: +4.00%
The broader message from today’s trade was positive, with all the major indices closing higher. However, with Nvidia and Marvell earnings still ahead, the next two sessions will likely determine whether today’s technology-led rebound can develop into a more sustained move—or whether buyers once again run into resistance.
Helping contribute to gains was:
