U.S. stocks moved higher at the start of the week, extending gains after a volatile period on financial markets. Technology shares led the rebound following last week’s sharp sell-off, as investors returned to risk assets and reassessed concerns over valuations and near-term profitability in the tech sector. At the same time, the U.S. dollar weakened on the foreign exchange market, reflecting shifts in global capital flows and increased caution among investors amid developments in Asia and expectations surrounding upcoming corporate earnings.
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Major U.S. indices return to gains
The Dow Jones Industrial Average added 0.04 percent by the close to 50,135.87 points. The broader Standard & Poor’s 500 index rose 0.47 percent to 6,964.82 points, while the Nasdaq Composite gained 0.90 percent to 23,238.67 points.
After a sharp seven-day sell-off, shares of software companies rose for a second consecutive session. The previous decline was driven by investor concerns over whether heavy investment in artificial intelligence would translate into higher profits in the near term.
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Focus on Nvidia earnings and currency market moves
Investors are now looking ahead to the end of the month, when AI chip leader Nvidia is set to release its earnings results, which are expected to provide key insight into demand for artificial intelligence technologies and the sustainability of recent investment trends. The company’s outlook is seen as a crucial signal for the broader technology sector, particularly for firms tied to AI infrastructure. Nvidia shares climbed 2.5 percent during the session, reflecting renewed optimism ahead of the upcoming report.
In currency markets, the Japanese yen strengthened following the election victory of Prime Minister Sanae Takaichi, snapping a six-day losing streak. The dollar weakened after Chinese regulators advised financial institutions to limit purchases of U.S. government bonds. The dollar index was down about 0.8 percent at 96.83 points around 10:00 p.m. CET, the euro rose to $1.1919 against the dollar, and the dollar fell to 155.80 yen.
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Source: ČTK
