Tech Stocks Lead Wall Street's Broad Market Rally on Monday
Wall Street kicked off the week on a positive note, driven by technology stocks that led the broader market higher.
The Dow Jones Industrial Average surged 604 points, or 1.2%, as Microsoft rose 4.3% and Boeing and Amazon each gained around 4%.
The tech sector continued to propel the wider market upward, with Amazon, Alphabet, and Adobe posting strong gains of their own.
Medical technology group Intuitive Surgical also outperformed, jumping 5.1%, as investors returned to growth stocks following a sharp decline in oil prices that eased concerns about inflationary pressures.
The lower oil prices helped boost risk appetite by reducing worries about elevated energy costs prolonging inflation and prompting central banks to maintain higher interest rates for longer.