Original Source
US Markets Rise, AI Stocks Surge Amid Oil Price Drop
US Market Performance
Major Wall Street indexes ended higher on Monday, with the Dow Industrials gaining 0.83%, the S&P 500 adding 1.01%, and the NASDAQ climbing 1.22%. The market showed a positive reaction to signs of de-escalation in geopolitical tensions, particularly with falling oil prices providing a sense of relief to investors.
Oil Prices Fall, AI Stocks Rise
Oil prices dropped modestly after the U.S. indicated it would be amenable to some Iranian, Indian, and Chinese ships moving through the Strait of Hormuz, reflecting the market's desperation for signs of de-escalation. Among individual movers, AI-related stocks showed strength. Meta Platforms shares gained over 2% following a Reuters report that the Facebook parent plans to shrink its workforce by at least 20% to offset costly AI infrastructure bets and prepare for greater efficiency with AI-assisted workers. Nvidia shares ended 1.65% higher after CEO Jensen Huang unveiled a new central processor at the chipmaker's annual developer conference. Micron Technology jumped more than 3.68% after announcing plans for a second manufacturing facility in Taiwan.
Travel and Discount Retailers Gain, Fed Meeting Awaited
Outside of tech, travel stocks like Delta Air Lines and Norwegian Cruise Line rose 3.50% and 5.14% respectively, benefiting from lower oil prices. Shares of Dollar Tree also increased by over 6% after the discount retailer signaled it could benefit from favorable tariffs in the near term. Investors now turn their attention to the Federal Reserve's two-day policy meeting, which concludes Wednesday, where the central bank is expected to leave interest rates unchanged.
*Source: YouTube: Reuters (2026-03-17)*
