AI Stocks Recover some of Last Week’s Sell-Off, While Oil Prices Come Off Their Overnight Highs
Micron and Marvell led gains as investors bought back chip shares and Brent crude eased after briefly topping $98 a barrel, easing inflation worries.
- The S&P 500 rose 0.7 percent on Monday, recovering from Friday's 2.6 percent decline as stocks swept up in the artificial-intelligence boom bounced back.
- Artificial-Intelligence-Related chip and memory stocks rebounded after plunging Friday amid concerns that share prices had soared too rapidly due to artificial-intelligence euphoria.
- Marvell Technology shares climbed 15.1 percent after Dow Jones Indices announced the company will join the S&P 500 index, following Nvidia CEO Jensen Huang's suggestion that Marvell could be "the next trillion-dollar company."
- After briefly topping $98, Brent crude oil prices eased to $94.60 per barrel, up 1.6 percent from Friday, as the Iranian military reported halting offensive operations following strikes involving Israel.
- Morgan Stanley strategist Michael Wilson described the recent market dip as a healthy correction, writing "in our view, a correction was inevitable and ultimately healthy if this bull market is going to extend into year-end.
20 Articles
20 Articles
Wall Street holds steadier as AI stocks recover some of their sell-off - Boston News, Weather, Sports
NEW YORK (AP) — Wall Street held steadier Monday and recovered some of its sell-off from last week, as stocks swept up in the artificial-intelligence boom bounced back. Oil prices, meanwhile, rose following fighting between Israel and Iran, but they pared their biggest gains. The S&P 500 added 0.3%, coming off a drop of 2.6% from Friday that was its worst since October. The Dow Jones Industrial Average dipped 80 points, or 0.2%, and the Nasdaq c…
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Wall Street Rebounds as AI Stocks Recover While Middle East Tensions Keep Oil Prices Elevated
Wall Street regained some stability on Monday after a sharp sell-off at the end of last week, with technology and artificial intelligence-related stocks leading a ... The post Wall Street Rebounds as AI Stocks Recover While Middle East Tensions Keep Oil Prices Elevated first appeared on [your]NEWS.
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AI stocks recover some of last week’s sell-off, while oil prices come off their overnight highs
NEW YORK — Wall Street is recovering some of its sell-off from Friday, as stocks swept up in the artificial-intelligence boom bounce back on Monday. Oil prices, meanwhile, are higher following fighting between Israel and Iran, but they have come off their peaks from overnight. Read more...
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