U.S. stocks gained for a second straight session on Monday as investors sought bargains after the Nasdaq and S&P 500's four-week tumble and assessed the latest economic data to gauge the impact of the Trump administration's policies.

Market Snapshot

The Dow Jones Industrial Average rose 353.44 points, or 0.85%, to 41,841.63, the S&P 500 gained 36.18 points, or 0.64%, to 5,675.12 and the Nasdaq Composite gained 54.58 points, or 0.31%, to 17,808.66.

Market Movers

Tesla - Tesla was down 4.8% after shares of the electric-vehicle company closed Friday up nearly 4%. Despite the jump on Friday, Tesla ended the week lower, andextended its losing streakto a record eight consecutive weeks. Coming into Monday, the shares had declined 41% over the past eight weeks. CEO Elon Musk’s political activities have been partly responsible for the stock’s drop.

Nvidia - Nvidia was down 1.8% as the chip maker’s GTC AI Conference begins Monday. Announcements are expected onfuture versions of Nvidia’s artificial-intelligence chips after the current Blackwell generation. CEO Jensen Huang’s keynote speech is scheduled for Tuesday.

Intel - Intel rose 6.8% following a Reuters report that saidnew CEO Lip-Bu Tanpotentially plans to cut back on middle management, improve the company’s chip-manufacturing performance, and introduce new semiconductors to power artificial-intelligence servers. The report cited people familiar with Tan’s thinking.

Quantum Computing Stocks - Shares of quantum computing stocks rose on Monday, as investors hoped that Nvidia would blow some life back into the beaten-down sectors with new announcements at its annual conference. Arqit Quantum Inc. 57%; Quantum Corporation rose 40%; SEALSQ and Quantum Computing rose 13%; D-Wave Quantum rose 10%.

Baidu - U.S.-listed shares of Baidu rose 9% after the Chinese search-engine provider introduced Ernie X1, a new artificial-intelligence model. Baidu claims that Ernie X1 delivers performance on par with the AI model from rival DeepSeek at only half the price.

Other Chinese ADRs also jumped on Monday as Beijing outlined an extensive plan to “vigorously boost” consumption. Direxion Daily FTSE China Bull 3X Shares (YINN) rose 7%; PDD Holdings, JD.com, and Alibaba rose 5%; XPeng rose 4%; NIO Inc. rose 3%.

Norwegian Cruise Line - Norwegian Cruise Line Holdings rose 4.4% to $20.04 after shares of the cruise operator were upgraded toOverweight from Neutral by J.P. Morgan. Analysts left their price target unchanged at $30. “The definitive message from management was zero detectable change in demand behavior to date, despite ‘noise’ in the macro backdrop,” analyst Matthew Boss wrote Monday after hosting Norwegian’s Chief Financial Officer Mark Kempa at the bank’s gaming, lodging, restaurant, and leisure conference last week.

Affirm - Affirm Holdings fell 4.2% after the Swedish fintech company Klarna, which filed to go public on Friday, said it would replace Affirm as theexclusive providerof buy now, pay later loans for Walmart. Affirm first partnered with the retail giant in 2019.

Netflix - Netflix was up 3.5% to $950.02. MoffettNathanson’s Robert Fishman upgraded the streamer to Buy from Neutral and set a $1,100 price target. Netflix increased prices for its ad-supported plans for the first time in January, and Fishman’s bull case centers on the idea the company will be able to quickly ramp up monetization of the tier. 

Science Applications - Science Applications International was up 7.2% after the information-technology services company posted fourth-quarter adjusted earnings that beat analysts’ estimates and raised the low end of its range for fiscal-year earnings and revenue.

Incyte - Incyte fell 8.6% after the biopharmaceutical company announced positive results from two skin-disease-treatment studies but investors sent the stock lower. Though both Phase 3 studies met their primary endpoints, analysts at William Blair noted that placebo-adjusted rates were well below Phase 2 results’ levels.

Micron - Micron is scheduled to report fiscal second-quarter earnings on Thursday. Analysts at Citi expect the company to report “decent results” but guide below analysts’ consensus on “worse consumer mix and NAND (26% of F1Q25 sales) underutilization charges.” Citi reiterated its Buy rating and $150 price target on shares of the memory-chip maker. The stock was up 2.3% at $103.11.

Market News

US Retail Sales Rise Slightly as Economic Uncertainty Mounts

U.S. retail sales rebounded marginally in February as consumers pulled back on discretionary spending, reinforcing the growing uncertainty over the economy against the backdrop of tariffs and mass firings of federal government workers.

Nonetheless, the report from the Commerce Department on Monday suggested that the economy continued to grow in the first quarter, though at a moderate pace. It sketched a picture of a cautious consumer, with sales at restaurants and bars declining by the most in 13 months amid deteriorating sentiment.

Retail sales rose 0.2% last month after a downwardly revised 1.2% decline in January, which was the biggest drop since November 2022, the Commerce Department's Census Bureau said.

Alphabet Said in Talks to Buy Cyber Firm Wiz for $33 Billion

Alphabet Inc. is in talks to purchase cloud-security company Wiz Inc. for $33 billion, restarting discussions that were called off last summer after extended negotiations, according to people familiar with the matter.

The deal, which may be announced as soon as Tuesday, would be Alphabet’s largest acquisition to date, and could help Alphabet’s Google catch up with Microsoft Corp. and Amazon.com Inc. in the competitive cloud-computing market. The internet search company’s cloud business has been profitable in recent quarters after years of losing money, though its sales growth has slowed.