Wall Street rebounds Monday as chipmakers drive S&P and Nasdaq
Business
After last Friday's selloff, Wall Street bounced back on Monday. The S&P 500 was up nearly 1%, and the Nasdaq-100 jumped almost 2%.
Tech stocks really pulled their weight: chipmakers like NVIDIA and Micron led the way, with their index rising a solid 5.5% after its steepest drop since the pandemic started.
Morgan Stanley keeps S&P 8,000 target
Morgan Stanley strategists described Friday's pullback as a "healthy reset," saying it could actually help keep the bull market going strong.
Thanks to solid earnings and good economic data, they're sticking with their year-end S&P 500 target of 8,000.
Elsewhere, oil prices dipped as tensions eased between Iran and Israel, and Bitcoin managed to recover slightly after briefly dropping below $60,000.