Closing Bell: Stocks Have a Very Good Monday

Stocks surged Monday and tech supported gains with renewed hope of diplomacy between the U.S. and Iran. 

The S&P 500 (SPX) was up 1.49%, and the Dow Jones Industrial Average ($DJI) gained 0.71%. The Nasdaq Composite climbed to a new all-time high, and the tech-heavy Nasdaq-100 (NDX) rose 2.83%. The Russell 2000 (RUT) inched 0.52% higher. 

U.S. benchmark crude fell more than 4% to settle near $92 per barrel, extending a four-day losing streak. Shipments passing through the Strait of Hormuz, a chokepoint for Middle East oil and oil headed to Asia, reached a six-month high, according to reports, and President Trump signaled openness to meeting Iran's president at the UN General Assembly this week. Easing supply concerns pulled the benchmark 10-year Treasury yield to near 4.96% and relieved pressure on inflation-sensitive equities. 

Five things to watch from Monday’s market action: 

Tech and artificial intelligence-related stocks supported the market rally. Shares of Intel (INTC) jumped 12% and Advanced Micro Devices (AMD) market capitalization crossed the $1 trillion threshold for the first time, with the stock up nearly 10% Monday. Driving AMD's five-day rally is server CPU demand; they’re used alongside GPUs in AI inference. AMD is the fourth U.S. chipmaker to top $1 trillion, after Nvidia (NVDA), Broadcom (AVGO), and Micron (MU). 

Bitcoin (/BTC) surged more than 6% to above $86,000. Watch: Strive CEO Says Bitcoin 'Fastest Horse' in Crypto Race, Rate Hikes Not Bearish  

After a U.S.–Denmark security agreement regarding Greenland, mineral and resource stocks with exposure to Greenland rallied. Critical Metals (CRML) was up nearly 39%, and Greenland Mines (GRML) was up 230%. See Iran & China at Forefront of Trading Week, Critical Metals Rally & NVO Slides 

Meta Platforms (META) stock rose 11% ahead of the firm’s annual Connect event, with CEO Mark Zuckerberg speaking at 7 p.m. ET Wednesday. Wells Fargo raised its META price target to $796 from $640 and maintained its Overweight rating. See Data Center Spending Stays Hot While Quantum Waits | The Watch List 

Paramount Skydance (PSKY) settled a 12-state antitrust lawsuit, clearing the way for a $110 billion merger with Warner Bros. Discovery (WBD). Warner Bros. shares rose %, and Paramount climbed %. The deal, the largest in Hollywood history, calls for independent editorial boards for CNN and CBS and a $30 million penalty if the company fails to produce 30 films a year, according to reports. See Monday's First Moves: PSKY Nears Settlement, New NBIS & CRWV Bear, HPQ Withholds Guidance

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