Wall Street rises, buoyed by a drop in oil prices

U.S. stocks rose on Monday as a decline in oil prices helped ease concerns regarding inflation. Technology stocks surged, even as shares of Nvidia — one of the world’s largest artificial intelligence companies — fell.

Nine of the 11 major sectors within the S&P 500 index posted gains exceeding 1%, with the industrial and consumer sectors leading the way, each climbing by nearly 4%.

The S&P 500 index rose by approximately 173 points, or 2.34%, to close at 7,549.83 points, while the Nasdaq Composite index climbed 671.13 points, or 2.73%, to 25,250.55 points. The Dow Jones Industrial Average increased by 1,104.20 points, or 2.16%, to 52,394.36 points.