Tech stocks power market surge as bond yields and oil prices tumble

Tech stocks surged Monday, with the Nasdaq 100 recording its single best day since early August as a wave of euphoria swept over the markets. The broader Nasdaq Composite index also rose 2.2% to a new all-time closing high. The S&P 500 index soared by 1.5%, also its best day since early last month. The Dow rose more than 360 points, or 0.7%. Chip companies such as ARM Holdings, which spiked 17%, and Intel, which rose 12%, accounted for some of the Nasdaq’s best performing stocks. AMD shares rose nearly 10%, and the company hit a $1 trillion valuation for the first time. Meta Platforms rose a stunning 11.4%, adding nearly $200 billion in market value, fueled by optimism around its AI ambitions and its recently released Muse AI assistant.

Monday ranked as Meta’s best one-day stock performance since the global market tariff turmoil of April 2025. The buying was not restricted to tech stocks, however. Shares of Moderna powered higher by 12%. The S&P industrial, real estate and consumer discretionary sectors also posted strong gains. After Paramount Skydance and Warner Bros. Discovery reached a deal earlier Monday with state attorneys general that likely paves the way for them to close their merger, shares of each company jumped more than 10%. The market moves were largely attributable to a report