NASDAQ Rises for 1st Time in 5 Days

The NASDAQ snapped a four-day losing streak on Monday, even as Treasury yields reached levels not seen in over a decade.

The Dow Jones Industrials backed off 36.25 points to finish trading Monday at 34,464.41.

The much-broader index gained 30.19 points to 4,399.90.

The NASDAQ index shot higher 206.81 points, or 1.6%, to 13,497.59, on its biggest one-day advance since July 28, when it rallied 1.9%.

Palo Alto Networks rallied 14.5% on stronger-than-expected earnings, and Nvidia popped 8.3% ahead of its earnings report due Wednesday. Tesla added 7% and Meta climbed 2.4%. The S&P 500 tech sector gained 2.3% on Monday.

Those moves come after weekly declines on Wall Street, which added to the market’s late-summer slump. The S&P 500 and NASDAQ each fell for a third straight week, while the Dow had its biggest weekly decline since March.

Investors digested rising bond yields and weakness out of China that put a damper on markets during a typically lackluster season.

This week, investors are anticipating an address Friday morning from Federal Reserve Chair Jerome Powell at the central bank’s annual symposium at Jackson Hole, Wyoming.

Prices for the 10-year Treasury dived, pushing yields up to 4.34% from Friday’s 4.25%. Treasury prices and yields move in opposite directions.

Oil prices faded 46 cents to $80.79 U.S. a barrel.

Gold prices collected $7.20 to $1,923.70 U.S. an ounce.

NASDAQ Rises for 1st Time in 5 Days

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