US stocks rose on Monday morning as investors anticipated upcoming Big Tech earnings and chip stocks advanced ahead of the week's results.
US stocks climbed on Monday morning as the tech sector gained momentum ahead of major corporate earnings reports. The Nasdaq Composite rose nearly 0.8%, while the S&P 500 added 0.5% and the Dow Jones Industrial Average edged up 0.3%. Investors are closely watching for signs that companies can successfully monetize artificial intelligence to justify recent heavy investments in the technology. Wall Street has raised expectations for quarterly results from Alphabet, Intel Corporation, IBM, and Tesla, which are scheduled for release later this week. While semiconductor stocks saw losses during a volatile week, the market is now searching for the next catalyst in the artificial intelligence trade. Energy markets showed a different trend as oil prices eased after reaching $90 a barrel. This reversal followed a weekend of tit-for-tat attacks between the US and Iran. Although the conflict has intensified, Iran indicated that diplomatic exchanges would continue through mediators, potentially opening the door for future negotiations.