Source: Sharecast
As of 1515 GMT, the Dow Jones Industrial Average was up 1.46% at 52,035.47, while the S&P 500 advanced 1.76% to 7,506.33 and the Nasdaq Composite came out of the gate 2.1% firmer at 25,094.68.
The Dow opened 749.74 points higher on Monday, more than reversing losses recorded in the previous session as investors digested a stronger-than-expected batch of US labour market data, while concerns over the potential implications of the Democrats' midterm election victory also continued to weigh on sentiment.
Technology stocks remained in focus early on Monday following reports that Nvidia's board had launched an investigation into chief executive and co-founder Jensen Huang's relationship with a businesswoman that US intelligence agencies have allegedly identified as a Chinese spy, adding a fresh layer of uncertainty for one of the market's most influential AI stocks.
On the macro front, US wholesale sales and inventories both increased in September, according to the Census Bureau, with sales growth comfortably outpacing stock building. Wholesale inventories increased 0.7% from August to $1.01trn, following an upwardly revised 0.7% gain in the prior month. Inventories were 7.6% higher than a year earlier. Sales at merchant wholesalers rose 2.8% month-on-month to $840.1bn, accelerating from August's upwardly revised reading. On an annualised basis, wholesale sales were up 19.8%. August's sales increase was revised up from an initially reported 1.8% to 2%, while September inventory growth was revised higher to 0.7% from a preliminary estimate of 0.6%.
Market participants were also looking ahead to the consumer price index on Tuesday and the producer price index on Friday, with traders hoping to gain some insight into the Federal Reserve's thinking.
In the corporate space, Take-Two Interactive, Occidental Petroleum, and Skydance were all scheduled to report quarterly earnings after the close on Monday.
CoreWeave, Cisco and Applied Materials will all report earnings before the end of the week.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $58.21 5.20%
Caterpillar Inc. (CAT) $588.16 4.82%
Goldman Sachs Group Inc. (GS) $897.29 3.72%
Apple Inc. (AAPL) $348.93 2.31%
Microsoft Corp. (MSFT) $540.05 1.91%
Boeing Co. (BA) $175.27 1.55%
Home Depot Inc. (HD) $349.43 1.55%
Walt Disney Co. (DIS) $118.09 1.31%
Cisco Systems Inc. (CSCO) $97.43 1.02%
International Business Machines Corporation (CDI) (IBM) $247.05 1.02%
Dow Jones - Fallers
Coca-Cola Co. (KO) $95.14 -0.83%
Visa Inc. (V) $419.65 -0.78%
Chevron Corp. (CVX) $210.83 -0.67%
Dow Chemical Co. (DOW) $31.18 -0.48%
Travelers Company Inc. (TRV) $395.86 0.08%
Procter & Gamble Co. (PG) $165.67 0.10%
Merck & Co. Inc. (MRK) $146.84 0.14%
S&P 500 - Risers
Advanced Micro Devices Inc. (AMD) $487.89 10.85%
DENTSPLY Sirona Inc. (XRAY) $9.52 10.77%
Wynn Resorts Ltd. (WYNN) $86.89 8.29%
Mattel Inc. (MAT) $15.70 7.69%
NRG Energy Inc. (NRG) $94.74 7.60%
United Airlines Holdings Inc (UAL) $119.46 7.24%
American Airlines Group (AAL) $13.96 7.13%
Arista Networks Inc. (ANET) $184.75 7.13%
Macy's Inc. (M) $24.78 6.98%
Corning Inc. (GLW) $113.58 6.57%
S&P 500 - Fallers
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Nvidia Corp. (NVDA) $177.57 -7.48%
Equity Residential (EQR) $63.66 -3.50%
Hershey Foods Corp. (HSY) $171.84 -2.61%
Gen Digital Inc. (GEN) $29.60 -2.47%
Molson Coors Beverage Co. Class B (TAP) $39.19 -2.41%
CenturyLink Inc. (LUMN) $5.62 -2.26%
Akamai Technologies Inc. (AKAM) $81.30 -2.10%
Synchrony Financial (SYF) $72.93 -1.83%
Intuit Inc. (INTU) $337.55 -1.78%
Nasdaq 100 - Risers
DENTSPLY Sirona Inc. (XRAY) $9.49 10.77%
Wynn Resorts Ltd. (WYNN) $86.46 8.29%
Tesla Inc (TSLA) $378.50 7.82%
American Airlines Group (AAL) $13.97 7.13%
Applied Materials Inc. (AMAT) $361.27 6.66%
Align Technology Inc. (ALGN) $168.68 6.09%
Cadence Design Systems Inc. (CDNS) $328.86 5.64%
Asml Holdings N.V. (ASML) $1,501.08 5.63%
KLA-Tencor Corp. (KLAC) $145.52 5.27%
Intel Corp. (INTC) $58.14 5.20%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Nvidia Corp. (NVDA) $177.24 -7.48%
JD.com, Inc. (JD) $28.30 -2.32%
Gen Digital Inc. (GEN) $29.65 -2.27%
Intuit Inc. (INTU) $336.99 -1.78%
Booking Holdings Inc. (BKNG) $162.87 -1.69%
Check Point Software Technologies Ltd. (CHKP) $144.76 -1.36%
Biomarin Pharmaceutical Inc. (BMRN) $55.53 -1.15%
Mercadolibre Inc. (MELI) $1,526.72 -1.12%
Microchip Technology Inc. (MCHP) $59.94 -1.10%