Wall Street saw strong gains on Monday as major indices rebounded from recent losses, fueled by a recovery in beaten-down tech stocks and upbeat economic data.
The S&P 500 climbed 1%, while the Nasdaq Composite advanced, reflecting renewed investor confidence.
The Dow Jones Industrial Average surged 510 points, or 1%, with Walmart and IBM among the top gainers.
Retail sales data provides relief
Investor sentiment received a boost from the latest retail sales report, which, despite coming in below expectations, was not as weak as feared.
According to the Commerce Department’s advanced reading, retail sales increased 0.2% in February, missing the estimated 0.6% rise.
However, excluding autos, sales rose 0.3%, aligning with forecasts and offering reassurance about consumer spending trends.
The market’s rebound followed a volatile stretch that saw the S&P 500 enter correction territory last Thursday, dropping more than 10% from its recent high.
However, Friday’s 2% surge in tech stocks signaled a shift in momentum, helping indices recover further to start the new week.
Berkshire Hathaway reaches record high
Warren Buffett’s Berkshire Hathaway Class A shares hit an all-time high of $782,494.9 on Monday, rising over 1% on the day.
The stock has gained more than 14% in 2025, significantly outperforming the S&P 500’s 3.9% decline.
Berkshire’s resilience during market turbulence underscores its reputation as a safe-haven investment.
With holdings spanning insurance, railroads, retail, manufacturing, and energy, the conglomerate continues to attract investors seeking stability amid economic uncertainty.
Standard Chartered slashes Ethereum price target
In the cryptocurrency space, Standard Chartered significantly revised its outlook for Ethereum (ETH), cutting its year-end price target by more than half.
The firm now sees ETH struggling to break past previous highs amid ongoing market weakness.
Currently, Ethereum is trading at $1,932, marking a 42% decline for the year, in sharp contrast to Bitcoin (BTC), which has only dropped 10% year to date.
Broad market rally lifts most S&P 500 stocks
The stock market’s strength was widespread, with more than 90% of S&P 500 companies trading in positive territory.
By mid-afternoon, over 470 stocks in the index were posting gains.
Renewable energy company Enphase Energy led the rally with a surge of more than 9%, while semiconductor giant Intel followed closely, jumping 8%. However, Tesla struggled, falling over 4%, limiting the index’s overall advance.
RBC Capital Markets lowers S&P 500 year-end target
Despite the rally, concerns about economic growth persist.
RBC Capital Markets revised its S&P 500 year-end forecast down to 6,200 from its previous 6,600 projection.
This implies only a 5.4% gain from last year’s close, reflecting caution about economic headwinds.
Currently, the benchmark index remains down over 3% for the year.
As Wall Street looks ahead, traders remain focused on macroeconomic data and Federal Reserve policy signals, with inflation and interest rates continuing to shape market direction.
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