Wall Street kicked off the new trading week in emphatic fashion Monday, with all major indices closing solidly in the green and the Nasdaq leading the charge with a powerful 3.14% gain to close at 27,007.2. The S&P 500 added 1.76% to settle at 7,555.85, while the Dow Jones Industrial Average climbed 1.05% to 51,517.38. Even the small-cap Russell 2000 joined the party, tacking on 0.58% to close at 2,934.61.
The day's story was unmistakably technology. Meta Platforms was the standout performer among large-caps, jumping 4.67% to $593.48, reflecting a broad repricing of mega-cap tech as investors leaned into growth and AI narratives heading into the summer stretch. The Nasdaq's outsized move relative to the Dow underscored just how concentrated the buying was in the tech sector.
Financials were a relative weak spot, with JPMorgan Chase dipping 0.41% to $319.40 — a modest decline, but notable given the otherwise risk-on tone. The rotation dynamic was clear: money flowed toward high-growth tech and away from rate-sensitive financials.
Gold remained elevated at $4,330.33, suggesting that while the equity mood was optimistic, some investors maintained defensive hedges — a reminder that macro uncertainties have not fully dissipated beneath the surface of Monday's rally.