Rebound Continues! Wall Street Regains Gains
The US stock market continued its rally on Monday (February 2nd), as pressure from last week's sharp sell-off in precious metals and cryptocurrencies began to ease. This has allowed investors to refocus on earnings season and the dominance of large-cap stocks.
In the markets, the S&P 500 rose around 0.8%, the Dow Jones Industrial Average gained approximately 1.2%, while the Nasdaq 100 added almost 1%. Technology and growth stocks led the rally: Apple surged more than 3%, AMD rose almost 5%, and Micron skyrocketed more than 5%. Alphabet and Amazon also traded solidly ahead of their earnings releases this week.
Meanwhile, Oracle weakened slightly after a recent rally linked to its planned $50 billion capital raising. Nvidia fell about 2% as uncertainty lingered over its purported $100 billion investment involving OpenAI.
In terms of cyclical stocks, the industrial and financial sectors also provided support: Caterpillar rose nearly 5%, and major bank stocks rose broadly. On the other hand, the energy sector lagged as oil prices remained weak. (yds)
Source: Newsmaker.id
