US stocks rallied for a second consecutive day on Monday as investors sought bargains after the Nasdaq and S&P 500’s four-week decline and assessed recent economic data. The Dow Jones Industrial Average rose 0.85%, the S&P 500 gained 0.64%, and the Nasdaq Composite increased 0.31%.
Retail sales rebounded marginally in February, but fell short of expectations, with online spending showing some signs of recovery. However, factory activity in New York State plummeted to nearly two-year lows.
The Federal Reserve is expected to keep interest rates unchanged when it meets on Wednesday. Fed officials will also announce economic projections, providing insight into the impact of Trump administration policies on the economy.
Meanwhile, stocks like Intel and Nvidia surged after reports suggested their new CEOs plan significant changes to manufacturing and AI strategies. Quantum computing stocks jumped due to Nvidia’s annual conference.
The Dow Jones Industrial Average was 353.44 points higher at 41,841.63, while the S&P 500 gained 36.18 points to 5,675.12. The Nasdaq Composite rose 54.58 points to 17,808.66.
Source: https://www.reuters.com/markets/us/futures-slip-treasury-secretarys-comments-eyes-upcoming-fed-meet-2025-03-17