Tech-Stock Surge Led by Nvidia and Tesla Propels S&P 500 and Nasdaq to Sharp Gains

It was a mixed day for the S&P 500 on Monday, with some stocks making significant gains while others faced declines. Here are the top movers from the day:

Advancers:

Tech stocks led the way in rebounding from last week’s selloff, with chipmakers ON Semiconductor, Lam Research, and Applied Materials all seeing gains of more than 6%. Nvidia also saw a 4.8% increase, boosted by a price target upgrade from analysts. Tesla shares jumped 5.1% ahead of its earnings report, where CEO Elon Musk is expected to provide updates on company projects.

Decliners:

CrowdStrike continued its fall, dropping more than 13% as businesses worked through disruptions caused by a tech outage. Delta Air Lines shares dropped 3.5% due to flight cancellations, while Verizon fell 6.1% after reporting lower-than-expected revenue growth. AT&T and T-Mobile also saw declines in their shares. Starbucks dropped more than 3% after activist investor Elliott Investment Management took a stake in the company.

Overall, it was a day of ups and downs for the S&P 500, with some companies seeing strong gains while others faced challenges. Investors will be keeping a close eye on these movers in the days ahead.