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Barchart
Barchart
Rich Asplund

Stocks Settle Sharply Higher on Trade Hopes and AI Optimism

The S&P 500 Index ($SPX) (SPY) on Monday closed up +1.56%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.18%.  December E-mini S&P futures (ESZ25) rose +1.47%, and December E-mini Nasdaq futures (NQZ25) rose +2.12%.

Stock indexes rose sharply on Monday as they recovered some of their losses from last Friday's plunge.  Asset markets rebounded on Monday after the Trump administration softened its rhetoric toward China.  Chipmakers and AI infrastructure stocks also rallied on Monday, with Broadcom jumping more than 9% after OpenAI signed a multi-year agreement with the company to collaborate on custom chips and networking equipment, which could add 10 gigawatts' worth of AI data center capacity.

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