Tech Stocks Rebound as Market Eyes Interest-Rate Clues

The S&P 500 and Nasdaq climbed after a turbulent start, driven by tech stock recovery from an AI-concerned selloff. Oracle's upgrade and Sam Altman's remarks on ChatGPT's growth boosted confidence. As traders anticipate key economic data, Nvidia's upcoming results and a watch on Federal Reserve's actions remain critical.

The tech sector made a strong comeback on Monday, lending a boost to the S&P 500 and Nasdaq, recovering from last week's AI-driven downturn. Oracle stood out as a significant gainer following an upgrade by D.A. Davidson, reflecting renewed investor confidence.

A notable factor in Monday's rally was CEO Sam Altman's reported comments on ChatGPT's robust growth, attributed to Microsoft-backed OpenAI. This development, alongside remarks from industry insiders like Keith Lerner, suggests the market's positive reception to even modest optimistic news amid recent volatility.

Investors await important economic indicators, including Nvidia's performance report and job market data, which could influence Federal Reserve rate decisions. Meanwhile, ongoing corporate movements, highlighted by leadership changes and strategic lawsuits, continue to sway stock trajectories across sectors.

(With inputs from agencies.)