Tech Stocks Surge as Investors Eye Earnings Amid China's Economic Concerns

U.S. stocks, led by tech shares, rose despite China's economic worries. The S&P 500, Dow, and Nasdaq climbed, with light trading on Columbus Day. Investors are focused on upcoming earnings reports, including major banks and tech companies. Meanwhile, China's sluggish export growth fuels stimulus hopes.

Technology stocks led the charge on Wall Street, lifting U.S. markets despite light trading due to Columbus Day. The Nasdaq benefitted significantly from tech-adjacent growth stocks, overshadowing concerns about China's economic slowdown.

The S&P 500 and Dow are poised for record highs, with investors eagerly awaiting high-profile corporate earnings reports this week. Economic data releases, including retail sales and industrial production, are anticipated to impact investor sentiment.

China's economic challenges and lackluster stimulus details affected global markets. Oil prices dipped due to subdued demand expectations from China, while the dollar gained strength against major currencies as the euro weakened ahead of a European Central Bank meeting.

(With inputs from agencies.)