Hope for a Fed Rate Cut Springs Eternal

All is forgiven—for now anyway. Technology stocks that were recently pushed around as investors were mollified, then unmollified by Nvidia’s rosy outlook were in favor again as traders kicked off a data-packed few days.

The S&P 500 rose 1.5% and the tech-heavy Nasdaq 100 ended Monday’s session more than 2% higher. While the former notched its best day in six weeks, the latter gained the most since May. Bitcoin reversed an earlier drop and the US 10-year Treasury yield declined to 4.03%.