S&P 500 and Nasdaq rise as AI stocks rebound
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Economies.com
2026-10-19 14:42 UTC
The benchmark S&P 500 and Nasdaq Composite indexes rose on Monday as artificial intelligence-related stocks recovered from last week’s sharp selloff, while declining oil prices provided additional support to markets ahead of major corporate earnings reports due this week.
Both indexes recorded their steepest weekly declines since late June on Friday, amid concerns that higher interest rates could constrain investment in AI infrastructure, weighing on technology stocks, particularly data center operators.
In trading, the Dow Jones Industrial Average fell 102.02 points, or 0.20%, to 51,900.39.
Meanwhile, the S&P 500 gained 34.27 points, or 0.45%, to 7,693.71, while the Nasdaq Composite climbed 249.13 points, or 0.95%, to 26,389.16.
The selloff reflected growing investor concerns over how the costly expansion of AI infrastructure will be financed, a question that has placed increasing pressure on the companies underpinning the US equity bull market, which recently approached its fourth anniversary.
The blue-chip Dow Jones index, meanwhile, came under pressure from modest declines in shares of JPMorgan Chase, Sherwin-Williams and Visa. The trading session coincided with the 39th anniversary of Black Monday, the 1987 stock market crash when the Dow Jones Industrial Average plunged 22.6%.
Shares of chipmaker Broadcom rose 2.2%, while Micron jumped 4.3% on Monday.
The Philadelphia Semiconductor Index gained 2.5%, putting it on track to snap an eight-session losing streak, its longest since October 2008.
Amazon shares also climbed 2.3% after Morgan Stanley named the e-commerce and cloud computing giant its top investment pick.
Corporate earnings take center stage
Meta is expected to beat Wall Street expectations when it reports earnings on Wednesday. Elon Musk-led Tesla is also scheduled to release its results the same day, while SpaceX is expected to report earnings on Tuesday.
Intel shares surged 5.1% after JPMorgan upgraded the stock from “Underweight” to “Neutral.”
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