The Nasdaq Composite closed at a record high on Monday, surging 2.26% to 27,122.09 points. A fourth consecutive decline in crude oil prices relieved pressure on Treasury yields, boosting investor sentiment despite broader market caution.

Tech stocks drive gains

Technology and communication services sectors led the rally, bucking the mixed weekly performance of major indices. The Dow Jones Industrial Average fell 1.7% for the week, and the S&P 500 declined 0.1%, while the tech-heavy Nasdaq recorded a weekly gain of 0.7%. On Monday, the Dow rose 366 points to 52,048.83, and the S&P 500 gained 1.49% to 7,764.70.

Individual tech stocks saw significant movement:

• Intel Corp. (NASDAQ: INTC) jumped 12%
• Advanced Micro Devices (NASDAQ: AMD) added around 10%
• Meta Platforms Inc. (NASDAQ: META) surged 11% following positive early responses to its Muse AI agent

Economic data and sector performance

Most S&P 500 sectors closed higher, with information technology and consumer discretionary posting the biggest gains. Energy and utilities stocks declined, reflecting the drop in oil prices. On the economic front, the Chicago Fed National Activity Index fell to -0.04 in August from a revised +0.08 in the previous month, indicating a slight cooling in economic activity.

Sentiment remains cautious

Despite the record close on the Nasdaq, overall market sentiment remains subdued. The CNN Business Fear & Greed Index improved slightly to 34 from a prior reading of 30, but remained in the "Fear" zone. The index, which ranges from 0 (maximum fear) to 100 (maximum greed), is calculated based on seven equal-weighted indicators.

What the numbers show

A divergence exists between asset class performance and sentiment indicators. While the Nasdaq achieved a record high driven by specific tech rallies and easing macro pressures (oil/yields), the Fear & Greed Index at 34 suggests investors remain hesitant about broader market sustainability. This indicates that recent gains are concentrated in specific sectors rather than reflecting widespread bullish confidence across all market participants.

Investors are now awaiting earnings results from AutoZone Inc., Thor Industries Inc., and KB Home.

U.S. stocks rose on Monday, led by gains in technology and mining sectors. The Nasdaq Composite gained over 1% as investors reacted to geopolitical developments and corporate announcements.

Market Movers

Critical Metals Corp (NASDAQ: CRML) shares surged 38.3% to $9.30. The rally followed President Donald Trump’s announcement of a U.S.-Denmark agreement granting the United States permanent control over Greenland’s security. This development renewed focus on the Arctic island’s strategic mineral resources.

Priority Technology Holdings Inc (NASDAQ: PRTH) climbed 33.6% to $7.79 after announcing an all-cash take-private deal.

New Era Energy & Digital Inc (NASDAQ: NUAI) rose 25.5% to $7.36. The company secured a 20-year power purchase agreement for 200-207 MW with Vistra’s Luminant for Texas Data Center Phase 1.

Grail Inc (NASDAQ: GRAL) gained 20.4% to $97.20.

Vista Gold Corp (NYSE: VGZ) rose 18.4% to $2.67 after Artemis Gold agreed to acquire the company.

Tech and Chip Stocks

Intel Corp (NASDAQ: INTC) surged 9.2% to $118.62 as chip stocks advanced alongside the broader market. Advanced Micro Devices Inc (NASDAQ: AMD) rose 8.5% to $607.84, reflecting renewed investor interest in growth stocks.

Arm Holdings PLC – ADR (NASDAQ: ARM) surged 8.4% to $298.75. Maxlinear Inc (NASDAQ: MXL) rose 8.1% to $87.68.

Meta Platforms Inc (NASDAQ: META) rose 6.8% to $710.84. Wells Fargo analyst Ken Gawrelski maintained an Overweight rating and raised the price target from $640 to $796.

Other Gainers

Moderna Inc (NASDAQ: MRNA) gained 8.9% to $167.71.

Strategy Inc (NASDAQ: MSTR) gained 8.8% to $167.43, tracking Bitcoin which traded around 6% higher.

AXT Inc (NASDAQ: AXTI) gained 9.9% to $76.99.

Twenty One Capital Inc (NYSE: XXI) gained 7.4% to $6.26.