Tech and Finance Stocks Drive U.S. Market Surge Amid Earnings Optimism

U.S. stocks surged on Monday, driven by strong performances in finance and technology sectors, buoyed by positive earnings results. The rally was led by Apple, Meta, and Alphabet, as the Philadelphia Semiconductor Index hit a record high. Analysts forecast improved third-quarter earnings growth.

On Monday, U.S. stocks experienced a robust surge, primarily fueled by the finance and technology sectors. Strong quarterly earnings results reignited investor risk appetite and alleviated concerns regarding regional bank credit quality. This broad rally led to significant gains across all three major U.S. stock indexes.

Apple achieved a record high, while companies like Meta, Netflix, and Alphabet also saw considerable growth. The Philadelphia Semiconductor Index reached a historic high during the session. Upcoming earnings reports from high-profile firms, including Tesla and General Motors, are anticipated to provide further insights.

Analysts predict a 9.3% increase in third-quarter S&P 500 earnings year-on-year. Additional optimism was provided by White House economic advisor Kevin Hassett, who suggested the federal shutdown might end soon. As tariffs and other uncertainties diminish, companies are better positioned to focus on profitability.

(With inputs from agencies.)