Tech stocks power market surge as bond yields and oil prices tumble

Key Points:

• Tech stocks surged Monday, with the Nasdaq 100 experiencing its best day since early August, driven by strong gains in chip companies like ARM Holdings, Intel, and AMD, which reached a $1 trillion valuation.
• Meta Platforms soared 11.4%, adding nearly $200 billion in market value due to optimism about its AI initiatives and new Muse AI assistant, marking its best one-day performance since April 2025.
• The broader market also advanced, with the S&P 500 rising 1.5% and the Dow up 0.7%, supported by gains in sectors such as industrials, real estate, and consumer discretionary, as well as a merger deal boosting Paramount Skydance and Warner Bros. Discovery shares.
• Oil prices fell sharply amid reports of potential U.S.-Iran talks resuming and increased Saudi oil flows, causing Brent crude to dip below $100 per barrel and the S&P energy sector to decline 2.5%, while bond yields also dropped on hopes of easing inflation.
• Positive but cautious sentiment surrounded U.S.-China trade discussions, with officials describing talks as “very successful,” though no extension of the current trade deal was expected ahead of its November expiration.