Wall Street's rally broadens as the Nasdaq gains more than 2.5%
The S&P 500 advances more than 2% as technology shares rebound, while Nvidia remains under pressure.
Wall Street's rebound gathered pace Monday morning, moving well beyond the modest gains at the opening bell. In a late-morning snapshot, the S&P 500 was up about 2.1% and the Nasdaq Composite about 2.6%, while the Dow Jones Industrial Average gained about 1.7%.
The advance came despite continued pressure on Nvidia. Other large technology stocks rallied as investors bought back into an AI trade that had suffered heavy selling last week. The move widened the gap between Nvidia's company-specific risk and the direction of the broader market.
A larger rebound, not a closing result
The Nasdaq's gain had reached about 2.5% by 10:50 AM ET. These are intraday readings, not closing returns, and the rally could still change before the end of the session.
Nvidia's board inquiry remains separate from the market rebound. The company has said an independent committee will examine reports of a foreign intelligence effort targeting chief executive Jensen Huang, while saying it has no reason to believe national security or company secrets were compromised. An inquiry is not a completed finding.
Our opening-market update covered the first gains after the bell. The development now is their size and breadth: both the S&P 500 and Nasdaq have extended their advance even with Nvidia moving in the other direction.
