Major U.S. equities indexes gained ground on Monday, bouncing back from last week’s tech selloff, though the consequences of last week’s technology disruptions persisted.
Investors kept an eye on political developments, which helped some stocks in the tech sector move higher. Anticipation of a slew of corporate earnings reports this week also lifted stocks.
The S&P 500 was 1.1% higher, while the tech-focused Nasdaq gained 1.6%. The Dow Jones Industrial Average advanced by 0.3% as it bounced back toward the record high it set last week.
Clinical research company IQVIA Holdings (IQV) led the S&P 500 higher, moving up 9.2% after its earnings showed better-than-expected income and revenue. The company also raised its full-year earnings per share outlook.
Tech stocks rebounded from last week’s sell off, as investors digested U.S. political developments related to President Joe Biden withdrawing from the presidential race and its consequences for trade and industrial policy. ON Semiconductor (ON), Lam Research (LRCX…