Post-Bell | Nasdaq Jumps 1%. Oracle up 3%; Alphabet, Tesla Rise 4%; Li Auto, Unity up 7%; CoreWeave Soars 8%; Figure up 15%

The three major U.S. stock indexes closed higher on Monday with the S&P 500 and the Nasdaq notching intraday record high closes, as investors await the Federal Reserve's crucial policy meeting later this week.

Market Snapshot

The Dow Jones Industrial Average rose 49.23 points, or 0.11%, to 45,883.45, the S&P 500 gained 30.99 points, or 0.47%, to 6,615.28, and the Nasdaq Composite gained 207.65 points, or 0.94%, to 22,348.75. Oklo Inc. up 16%; Figure Technology Solutions rose 15%; Lyft, Inc. rose 10%; Li Auto, Unity Software Inc. up 7%.

Market Movers

Nvidia was flat after falling earlier in the session. China's market regulator said Monday that a preliminary investigation found the chip maker had breached antimonopoly laws. While the regulator said it plans to conduct further investigations, the inquiry is a blow to Nvidia, as it appears unlikely that China would allow it to sell new hardware in the country while saying it violated antitrust regulations. The leading maker of artificial-intelligence chips already is barred by the U.S. from selling its most advanced products in China.

Texas Instruments declined 2.4%, while peer Analog Devices dipped 0.1%. Over the weekend, China launched an anti-dumping investigation for certain U.S.-made analog chips, the kind made by the two companies.

Oracle was up 3.4% after President Donald Trump said the U.S. and China had reached an agreement related to social media app TikTok. The stock rose on expectations the database-software company would be involved in any deal. Oracle shares were coming off a week that saw them rise almost 26% -- their best weekly performance in 26 years -- following a significant increase in its backlog of contracted work.

Warner Bros. Discovery gained 3.2%. Shares of the entertainment company jumped 17% on Friday and 56% last week, marking the stock's best weekly performance on record, according to Dow Jones Market Data. The gains came after The Wall Street Journal reported that Paramount Skydance was prepping a takeover bid backed by the Ellison family.

Gemini Space Station, Inc. gained 1.6% to $32.52 after jumping 14% in its trading debut Friday and closing at $32. The stock rose as high as $45.89 during its first trading session. The initial public offering of the company, a crypto brokerage that is run by twins Cameron and Tyler Winklevoss, was priced Thursday evening at $28 a share.

Western Digital climbed 4.8% to $102.39 to hit a record closing high. The steep gains came after the storage-drive maker sent a letter to customers saying it was gradually raising prices on all hard drives, effective immediately, due to "unprecedented demand."

Alaska Air tumbled 6.7%. The carrier said it expects third-quarter earnings to come in at the low end of its guidance, with profits dinged by higher-than-expected fuel costs and operational challenges.

Market News

Alphabet Enters $3 Trillion Market Cap Club as Big Tech's AI Momentum Builds

Google parent Alphabet hit a market capitalization of $3 trillion for the first time on Monday, riding on renewed optimism around artificial intelligence and a favorable antitrust ruling.

Tesla’s Stock Erases Loss for the Year, Soaring 85% from April Low

Tesla Motors’s shares have finally turned positive for the year.

After a dismal first quarter, which was the worst for the stock in any period since 2022, and a brutal start to April, following President Donald Trump’s announcement of sweeping new tariffs, Wall Street has again rallied around the electric vehicle maker.

The stock rose 3.6% on Monday to $410.26, topping its closing price of 2024 by over $6. It’s up 85% since bottoming for the year at $221.86 on April 4. A new filing revealed that CEO Elon Musk purchased about $1 billion worth of shares in the company through his family foundation.

CoreWeave Discloses New Cloud Capacity Order with Nvidia

AI hyperscaler CoreWeave, Inc. disclosed a $6.3 billion new order form with NVIDIA under its existing 2023 services deal, giving Nvidia rights to buy unused data center capacity through April 13, 2032.

Shares of CoreWeave rose nearly 8% on Monday.