03.08.202613:33:41UTC+00US Stocks Gain on Monday

US stocks advanced on Monday, supported by a rebound in Treasury prices. The S&P 500 gained 0.5%, the Dow Jones Industrial Average climbed more than 600 points, and the Nasdaq edged higher. Risk sentiment improved after the US refrained from launching strikes on Iran over the weekend and fuel prices retreated. The easing in energy markets helped push yields lower across the Treasury curve as investors recalibrated inflation expectations, boosting credit-sensitive equity sectors.

Financials outperformed, with major bank holding companies including JPMorgan, Bank of America, Visa, and Goldman Sachs rising more than 1%. Large-cap technology stocks also participated in the rally, led by Amazon, which jumped 5%. Bristol-Myers Squibb surged nearly 10% following reports that it may be a takeover target for AstraZeneca.

Semiconductor names remained volatile as investors continued to reassess speculative positions and overleveraged players unwound holdings at what appear to be discounted levels. Memory chip producers led the downside, with Micron and SanDisk falling more than 4%. Elsewhere in the technology complex, SpaceX and AMD each slipped about 1% ahead of their earnings reports due tomorrow.