AI Stocks Lead Wall Street Rally as Oil Prices Slide
Wall Street futures rose on Monday as AI stocks gained momentum, offsetting concerns about rising interest rates and oil prices.
The 2% slide in oil prices helped pull Treasury yields lower, providing a boost to equities. Investors are also focusing on signs that spending on developing artificial intelligence technology is still expanding, despite some high-profile setbacks for top AI companies earlier this month.
Chipmakers such as and were among the biggest gainers, with rising 5.4% and adding 2.6%. Meta climbed 2.4%, while advanced 2.7%. gained a whopping 6% after partnering with Anthropic to invest $2 billion in AI evaluation.
A diplomatic breakthrough between the US and Denmark over the weekend also helped ease trade tensions, with US-listed shares of companies exposed to Greenland advancing significantly. soared 30%, shot up 70%, and more than doubled.