US stocks close with gains amid tech rebound

By Mucahithan Avcioglu

ISTANBUL (AA) - US stocks closed higher on Monday, led by a rebound in technology shares after a volatile week.

The Dow Jones Industrial Average was up 0.04%, or 20.2 points, closing Monday at 50,135.87.

The Nasdaq climbed 0.9%, or 207.46 points, to 23,238.67, while the S&P 500 added 0.47%, or 32.52 points, to reach 6,964.82.

The Volatility Index (VIX), also known as the "fear index," fell 2.25% to 17.36.

Tech stocks led gains, building on Friday’s recovery after last week’s sell-off, which was driven largely by software stocks. Nvidia rose 2.5% and Broadcom added 3.3%. Oracle jumped 9.6%, supported by optimism around OpenAI and its key backers.

Markets are now focused on US labor market data. The Bureau of Labor Statistics is scheduled to release delayed January employment figures on Wednesday after a partial government shutdown postponed last Friday’s report.

The delay has also pushed back January consumer price index data, expected to show annual inflation of 2.5%.

The focus on jobs follows data from payroll processor ADP, which showed private-sector employment rose by just 22,000 in January, well below expectations.

Separately, a Federal Reserve Bank of New York survey released Monday showed US consumers’ short-term inflation expectations eased to 3.1% in January.