US stock indexes closed higher on Monday, as investors bought back technology shares after a large sell-off the previous week. The S&P 500 rose 0.4 percent, while the Nasdaq Composite gained 1.11 percent to 26,430. The Dow Jones fell 0.07 percent to 51,966. By our market data, the S&P 500 stood at 7,696.63 points at the 19 October close, up 0.49 percent.
Tech shares lead the rebound
Nvidia rose 1.4 percent and Tesla gained 3.8 percent, while Alphabet climbed about 1 percent. The gains came after the previous week’s sell-off, which weighed on Wall Street as investors grew worried that technology companies are borrowing heavily to fund artificial intelligence infrastructure.
CoreWeave, which had fallen more than 25 percent over the previous week, was upgraded to buy by Goldman Sachs. Its shares briefly rose early in the session but closed slightly lower.
Earnings season picks up
About 70 S&P 500 companies are scheduled to report earnings this week. United Airlines is due to report after the close on Tuesday, and General Motors before the market opens.
Related: Wall Street's VIX jumps 34.8% as tech shares tumble · Tech rebound lifts Wall Street, Nasdaq up 0.64 percent
Data: S&P Dow Jones Indices
