Stocks climbed broadly on Monday as investors shifted attention toward earnings season, with semiconductor names leading a recovery after a punishing sell-off the prior week.
The technology sector, tracked by the XLK ETF, posted gains of more than 1.6%, driven by strength across chipmakers and memory manufacturers.
Chip giants Nvidia (NASDAQ: NVDA) and AMD (NASDAQ: AMD) were among the top performers, helping anchor the broader semiconductor rebound during early trading hours.
Memory makers Micron (NASDAQ: MU) and SK Hynix (NASDAQ: SKHY) also participated in the rally, adding further momentum to the sector’s recovery from last week’s losses.
Intel (NASDAQ: INTC) shares jumped after JPMorgan analysts upgraded the stock, with the firm citing “solid execution” as the basis for their improved outlook on the chipmaker.
CoreWeave (NASDAQ: CRWV), a neocloud provider that was heavily sold off last week, rebounded sharply following a Goldman Sachs upgrade, helping revive broader confidence in the AI trade.
Investors are now squarely focused on a heavy slate of earnings reports due this week, with Netflix (NASDAQ: NFLX), Tesla (NASDAQ: TSLA), and Meta (NASDAQ: META) all scheduled to report.
SpaceX (NASDAQ: SPCX) is also among the high-profile names set to report results this week, keeping investor attention firmly fixed on growth-oriented companies.
Long-dated Treasury yields remained elevated, with the 10-year Treasury yield hovering near 5.1%, a level that continues to draw scrutiny from equity market participants.
Oil prices pulled back during early trading, with Brent crude futures falling to $108 per barrel and West Texas Intermediate hovering below $98 per barrel.
Other stocks drawing significant attention from investors on Monday included Nebius (NASDAQ: NBIS), Broadcom (NASDAQ: AVGO), and Cleveland-Cliffs (NYSE: CLF), according to market data.
The combination of a tech rebound, a busy earnings calendar, and persistent pressure from elevated bond yields is setting up a pivotal week for financial markets heading into late October.
