Storage and memory shares led the S&P 500, with Western Digital rising 6.1%, SanDisk 5.5%, Micron about 4% to 5% and Seagate 3.4%. The broader technology sector gained 1.3% with 43 of 54 names advancing, including Datadog up 5.4%, Amazon 5%, Palantir 4.4%, Marvell 4.1%, Tesla 3.8% and Nvidia 1.4%, while CoreWeave gave up an early rally following a Goldman Sachs upgrade to finish slightly lower. Banks and utilities lagged, with utilities falling 2% as the worst performing sector and Wells Fargo dropping 2.5%, Citigroup 2%, JPMorgan 1.8% and Bank of America 1.6%.
Monday's rebound followed a five day losing streak for the Nasdaq 100 that left the index down 5.5% last week, its steepest weekly loss since April 2025, and erased $1.9 trillion from US technology stocks. Chip stocks had dropped 15.7% over the prior eight sessions, pushing CNN's Fear and Greed Index down to an "Extreme Fear" reading of 18 on Friday.