Markets opened the week on a positive note as investors positioned for the start of first-quarter earnings season. The S&P 500 gained 0.85% to close at 6,742, while the Nasdaq outperformed with a 1.23% advance to 19,485. The Dow Jones lagged but still managed a solid 0.62% gain to finish at 47,320.
Technology stocks led the charge higher, with semiconductor names particularly strong ahead of key earnings reports. NVIDIA surged 4.7% as investors bet on continued AI momentum, while other chip stocks like AMD and Broadcom also posted solid gains. The enthusiasm around artificial intelligence continued to drive investor sentiment in the sector.
Energy stocks bucked the broader market trend, with Exxon Mobil falling 3.1% as oil prices retreated from recent peaks. Crude futures dropped to $84.50 per barrel as traders took profits following last week's rally. Meanwhile, gold held steady at $2,385 per ounce as investors weighed inflation concerns against a strengthening dollar.
The VIX volatility index remained subdued at 16.2, suggesting calm market conditions as earnings season begins in earnest. Financial stocks showed modest gains ahead of bank earnings later this week, with investors optimistic about net interest margin trends.