Wall Street holds steadier as AI stocks recover some of last week's sell-off
Summary
Wall Street's main stock indexes steadied Monday after a big drop last week, with AI-related stocks recovering some losses. Oil prices rose due to conflicts between Israel and Iran but later gave up most gains as tensions eased.Key Facts
- The S&P 500 rose 0.3% after falling 2.6% on Friday, its largest drop since October.
- The Dow Jones fell slightly by 80 points (0.2%), while the Nasdaq rose 0.9%.
- Companies that make chips and memory for AI boomed but saw price swings due to investor concerns about overvaluation.
- Micron Technology’s stock gained 9.9% Monday after a 13.3% drop Friday; its stock price has more than tripled in 2026.
- Marvell Technology joined the S&P 500 and rose 9.6% in its first trading day after steady gains this year.
- Nvidia’s CEO called Marvell a potential trillion-dollar company, influencing investor enthusiasm.
- Oil prices briefly rose above $98 per barrel due to Israel-Iran strikes, then settled around $94.25.
- Rising oil prices have contributed to higher inflation and increased bond market yields, which can slow economic growth.
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