Nasdaq 100 and S&P500: Oracle Soars, Nvidia Climbs as US Indices Strengthen Into Jobs Data

Tech Lifts S&P 500 as Dow Tags Another Record

The S&P 500 pushed higher in mid-session action Monday, with tech back in charge and the Dow punching out another record. The tone was steadier than last week’s chaos, but traders still aren’t fully committing ahead of Wednesday’s delayed jobs report and Friday’s CPI. Buyers stepped back into the AI trade—Nvidia, Broadcom, and Oracle led the charge—giving the broader market enough fuel to extend Friday’s rebound.

At 17:02 GMT, the S&P 500 Index is trading 6977.07, up 44.77 or +0.65%. The Nasdaq Composite is at 23295.243, up 264.029 or +1.15% and the Dow Jones Industrial Average is trading 50149.19, up 33.52 or +0.07%.

Technically, the Nasdaq is surging for a second session after crossing to the strong side of a key long-term pivot at 22959.14. The strong momentum created by the move has now put the index in a position to challenge the 50-day MA at 23,398.14, which is also the trigger point for an acceleration to the upside.

Tech and Communication Services Drive the Rally

Tech was the clear standout, up 1.7% as buyers leaned back into growth after last week’s washout. Communication services followed with a 1.3% gain, helped by ongoing strength in big-cap media and internet names. Materials and energy each added under 1%, showing some quiet interest in cyclicals as traders probed for value after recent softness. Industrials ticked higher as well.

On the flip side, health care slid nearly 1%, pressured by rotation out of defensives. Consumer staples dropped more than 1%, reinforcing that traders aren’t hiding in low-volatility pockets right now. Financials and utilities were slightly negative, while real estate and consumer discretionary held flat to modestly green.

The message is clear: traders want growth, not defense.

AI Names Reclaim Leadership, Software Splits

AI names reclaimed leadership with Nvidia up 3% and Broadcom up 4%. Oracle jumped 9% on expectations that OpenAI’s resurgence will boost cloud workloads routed through Oracle’s infrastructure.

But software was messy. Workday fell 6% after a leadership shakeup, and Monday.com collapsed 22% as AI pressure hits licensing models. Dynatrace bucked the trend with a 7.5% pop after beating earnings.

Outside tech, the action was mixed. Kyndryl imploded 55% after its audit committee launched a review and key executives exited. AppLovin surged 13% after refuting short-seller claims. Nexstar and Tegna jumped 12% and 8% respectively after Donald Trump reversed course and signaled support for their merger. Kroger gained 6% after naming Greg Foran as its next CEO, while STMicroelectronics climbed nearly 9% on a new AWS partnership.

The Week Ahead: Jobs and CPI Will Decide

The delayed January jobs report arrives Wednesday, with expectations for roughly 55,000 new payrolls after ADP’s weak 22,000 print last week. CPI follows on Friday, where consensus calls for a 2.5% annual increase.

If both reports come in soft, tech’s rally has room to run. If they’re hot, last week’s rotation out of growth becomes a real problem again. For now, buyers are back—but they’re not chasing yet.

More Information in our Economic Calendar.