Wall Street’s major indexes, including the S&P 500 and Nasdaq, moved higher on Monday following a volatile start. Technology stocks led the gains, rebounding from last week’s selloff triggered by concerns over artificial intelligence developments. The S&P 500 technology sector increased by 1.8%, building on gains from the previous session.
Investors remained cautious ahead of upcoming economic reports that could influence the Federal Reserve’s decisions on interest rates. Market participants are closely monitoring these data points for indications of future monetary policy adjustments.
**Why this matters:**
The performance of technology stocks significantly impacts overall market trends due to their large weighting in key indexes. Additionally, economic data releases play a crucial role in shaping expectations for the Federal Reserve’s interest rate strategy, which affects borrowing costs and investment decisions across the economy.
Source: NewsData