US stocks bounced back on Monday from the worst rout this year, as a selloff in technology stocks eased and traders assessed flaring tensions in the Middle East, which supported oil prices and energy shares.
The S&P 500 Index jumped 0.7% as of 9:34 a.m. in New York, paring a slide last week sparked by robust employment data, which boosted expectations for tighter Federal Reserve policy. The Nasdaq 100 Index rallied 1.5% after the tech-heavy gauge posted its biggest weekly drop since April 2025. A basket of the so-called Magnificent Seven companies rose 0.3%, led by gains in Nvidia Corp., which gained 1.7%. Micron Technology Inc. advanced 8.2%.
Energy and fertilizer shares climbed, while travel stocks fell. Chevron and Exxon Mobil both rose more than 1%, while United Airlines and Delta Air Lines fell about 0.2%.
The Philadelphia Semiconductor Index, home to chip bellwethers such as Nvidia, Intel Corp. and Advanced Micro Devices Inc., soared 5%. Marvell Technology Inc. gained 9.6% and Flex rose 2.8% as the companies are set to replace Pool Corp. and Campbell’s in the S&P 500 before the market open on June 22. Campbell’s rose nearly 1% after the food company reported adjusted earnings per share that beat the average analyst estimate.
Bond traders are wagering that inflation figures this week will show a surge in consumer prices, adding to pressure on the Fed to raise rates. Consumer-price figures, due Wednesday, loom as the next major catalyst. Fed officials are in a blackout period before their policy decision on June 17.
