Tech Rally Rebounds Stocks as Confidence Improves – US Market Wrap

A rally in technology shares fueled a rebound in stocks following a selloff driven by concerns over AI disruption, with sentiment also supported by an uptick in consumer confidence.

Beaten-down software companies advanced, lifting the Nasdaq 100 by 1.1%. AMD jumped about 9% after Meta Platforms outlined plans to spend billions on its equipment, while Texas Instruments fell on worries about heavy capital spending. Short-dated bonds lagged, and gold declined.

Weeks after Anthropic triggered a market rout with tools that raised fears AI could render entire businesses obsolete, the startup said it is expanding the reach of its Claude chatbot into new industries.

Investors are also preparing for Nvidia earnings on Wednesday, with expectations that the chipmaker will beat forecasts following a period of subdued share performance amid a rotation out of megacaps. Ahead of that report, Trump is set to deliver his State of the Union address on Tuesday evening, outlining his administration’s priorities for the year.

The S&P 500 rose 0.8%. The yield on 10-year Treasuries was little changed at 4.03%, and the dollar wavered.