US stocks rose on Monday as pressure on the tech sector eased, with chip stocks shaking off a recent dip.
The tech-heavy Nasdaq Composite (^IXIC) jumped 1%, while the S&P 500 (^GSPC) climbed 0.6%. The Dow Jones Industrial Average (^DJI) edged above the flat line on the heels of a record-setting, holiday-shortened week for the blue-chip benchmark.
Tech stocks are helping to drive gains, hinting at a return of faith in the artificial intelligence trade after the late-June slump in chip stocks. On Sunday, Nvidia (NVDA) supplier Hon Hai (2317.TW, HNHAF), also known as Foxconn, reported a stronger-than-expected rise in quarterly sales, a sign of sustained AI demand.
That has put the spotlight on Samsung Electronics’ (005930.KS, SSNLF) quarterly results, due on Tuesday. The world’s biggest maker of memory chips is expected to post an 18-fold year-on-year profit increase, far outstripping its total for all of 2025.
Meanwhile, oil prices were little changed after the OPEC+ group of major producers agreed to raise output targets, and flows revived through the reopened Strait of Hormuz. That eased worries over knock-on inflationary pressures.
On the macro front, investors watched Monday’s batch of US services data, which showed little change, after a disappointing June jobs report reset expectations for interest rates. That sets the stage for the release of minutes from the Federal Reserve’s first meeting with Kevin Warsh at the head, due on Wednesday.
