S&P 500 rips 1.6% higher, Nasdaq posts best day since May as Alphabet reignites AI trade
Stocks rose on Monday, boosted by Alphabet, as the market rebounded into the Thanksgiving holiday week after a slide that’s knocked the air out of this year’s artificial intelligence bull run.
The S&P 500 increased 1.6% to 6,705.12 while the Nasdaq Composite jumped 2.7%. The Dow Jones Industrial Average traded up 187 points, or 0.4%.
Shares of Alphabet saw gains Monday as investors grew optimistic about the company’s standing in the AI race. Google last week announced its upgraded AI model, Gemini 3, a move that comes nearly eight months following its unveiling of Gemini 2.5. The stock was last up 6%.
The enthusiasm surrounding Alphabet extended to other names in the AI trade. Broadcom surged 11%, while Micron Technology grew 8%. Palantir Technologies and AMD each popped 6%. Meta, Nvidia and Amazon also advanced.
Source : Cnbc.com