A rebound for AI stocks lifted the U.S. market.
The S&P 500 rose 0.7 percent Monday and pulled within 1 percent of its record, even though the majority of stocks within the index fell. The strength for AI sent the Nasdaq composite up 1.1 percent, and the Dow Jones Industrial Average added 0.3 percent to a record.
Broadcom was one of the strongest forces lifting the market after falling more than 2 percent on both Wednesday and Thursday. Treasury yields and oil prices eased a bit.
Stock indexes dipped modestly across much of Europe and Asia outside of a strong gain for Hong Kong.
On Monday:
The S&P 500 rose 54.19 points, or 0.7 percent, to 7,537.43.
The Dow Jones Industrial Average rose 155.84 points, or 0.3 percent, to 53,055.91.
The Nasdaq composite rose 288.49 points, or 1.1 percent, to 26,121.16.
The Russell 2000 index of smaller companies rose 13.43 points, or 0.4 percent, to 3,009.54.
For the year:
The S&P 500 is up 691.93 points, or 10.1 percent.
The Dow is up 4,992.62 points, or 10.4 percent.
The Nasdaq is up 2,879.17 points, or 12.4 percent.
The Russell 2000 is up 527.63 points, or 21.3 percent.
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