U.S. stocks ended on a positive note on Monday, with technology shares taking the lead. The S&P 500 and the Nasdaq Composite bounced back after a losing week on Wall Street. However, Treasury bonds faced further selling pressure ahead of a speech by Federal Reserve Chair Jerome Powell later in the week.

Nasdaq Composite Soars and Snaps Losing Streak

The Nasdaq Composite had a standout performance, surging by 1.6% to mark its best day since July 28. This impressive gain allowed the index to break its four-day losing streak, according to Dow Jones Market Data.

S&P 500 Records Significant One-Day Increase

The S&P 500 also had a solid day, advancing by 0.7% to achieve its largest one-day percentage gain in two weeks. Meanwhile, the Dow Jones Industrial Average finished nearly flat at 34,464, after experiencing a significant drop of nearly 252 points earlier in the session.

Nvidia Corp. and Tesla Stocks Rally

Shares of Nvidia Corp. experienced a remarkable jump of 8.5%. This surge in stock price coincided with investors eagerly awaiting the chipmaker’s earnings report, scheduled to be released on Wednesday after the bell. Another notable rebound came from Tesla, as the stock snapped its six-day losing streak following its addition to Baird Equity Research’s “best ideas” list.

Treasury Yields Continue to Rise

The selloff in Treasury bonds persisted on Monday, leading to an increase in yields. The yield on the 10-year Treasury rose by 8.8 basis points to reach 4.339%. This closing rate represented its highest level since November 6, 2007, as reported by Dow Jones Market Data.

In summary, U.S. stocks delivered a strong performance, with technology shares leading the way. The Nasdaq Composite and the S&P 500 both recorded significant gains, while the Dow Jones Industrial Average remained relatively stable. Additionally, Nvidia Corp. and Tesla stocks experienced notable rebounds. Meanwhile, Treasury yields continued on an upward trend, reaching their highest level in over a decade.

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