Nasdaq Extends Winning Streak to 10 Sessions as Tech Stocks Rally
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NEW YORK (AP) — The Nasdaq Composite extended its winning streak to 10 consecutive sessions on Monday, driven by a broad rally in technology stocks and a sharp decline in crude oil prices. The index climbed 1.2 percent, adding to gains that have pushed the benchmark to its highest level since late 2025.
The S&P 500 also advanced, rising 0.8 percent as investors rotated into growth sectors. The rally was led by the so-called Magnificent Seven stocks, a group of mega-cap technology companies that have dominated market performance over the past year. Shares of Nvidia, Microsoft, and Alphabet Inc. all posted gains exceeding 2 percent, while Amazon and Meta Platforms contributed to the upward momentum. Apple and Tesla saw more modest increases, but remained in positive territory for the session.
The surge in equity markets coincided with a significant drop in energy prices. West Texas Intermediate crude fell more than 3 percent, trading below $72 a barrel. The decline in oil costs has historically provided a tailwind for equities by reducing input costs for manufacturers and lowering transportation expenses. Analysts noted that the simultaneous movement in tech stocks and energy prices suggested a broadening of investor sentiment beyond the narrow sector rotation seen in previous weeks.
Market participants have pointed to a combination of factors fueling the optimism, though no single catalyst has been identified. The 10-session winning streak marks the longest continuous run for the Nasdaq since the early months of 2025. Trading volume was elevated compared to the previous five-day average, indicating strong participation across institutional and retail sectors.
The broader economic backdrop remains a focus for investors. The Federal Reserve has maintained its current interest rate stance, with officials signaling that policy adjustments will depend on incoming inflation data. Recent reports indicate that consumer price pressures have moderated, supporting the case for a stable monetary environment. However, uncertainty regarding global trade dynamics and geopolitical tensions continues to linger in the background.
Despite the strong performance, questions remain regarding the sustainability of the rally. Some market strategists caution that valuations in the technology sector have stretched, potentially limiting further upside without a corresponding increase in earnings growth. Others argue that the momentum is supported by robust corporate fundamentals and a resilient consumer economy.
As the session closed, the Nasdaq stood at 18,450 points, while the S&P 500 settled at 5,890. The Dow Jones Industrial Average also finished higher, gaining 0.5 percent. Investors will be watching upcoming economic data releases later in the week for further clues on the direction of the market. The extent of the rally's durability remains to be seen as traders assess whether the current momentum can carry into the next quarter.