NASDAQ Leads Monday Rally as Chip and AI Stocks Surge
Tech stocks ignite a broad market rally to open the week, with chip names posting gains of 3–8% on cease-fire hopes.
Stocks are off to a strong start Monday and the NASDAQ is doing the heavy lifting, up over 1% right out of the gate. The S&P is gaining nearly three-quarters of a percent and even the Dow is tagging along for a modest 0.31% pop. This is the kind of broad-based open that gets traders leaning in.
Chip and AI names are the ones actually driving this bus. Nebius Group is ripping over 8%, Credo Technology is up more than 6.6%, and Lumentum is gaining over 6%. Household semiconductor names like AMD, Intel, and Micron are all posting gains north of 5%. Even the bigger dogs — Broadcom, TSMC, and Marvell — are up in the 2–3% range. When semis move in lockstep like this, pay attention.
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The fundamental catalyst traders are pointing to is optimism around a potential cease-fire in the Strait of Hormuz. Geopolitical relief trades can unwind fast, so don't get complacent — but for now, risk appetite is clearly on.
Technically, the NASDAQ still has work to do. The 100-hour and 200-hour moving averages are sitting clustered just above current prices near 25,931 and 25,974. The index tagged 25,810 intraday but hasn't punched through. Bulls need a clean break above those levels to confirm real momentum. The S&P is in a similar spot — trading just below its 100-hour moving average at 7,508, with a clear next target near 7,577 if it can hold above that line. Watch those levels closely as the session develops.
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