The major averages opened lower, but rebounded in the green led by tech sector and tech stocks like Oracle, Apple and Tesla. The Dow Jones Industrial Average climbed 66 points, or 0.14%. The S&P 500 rose 29 points or 0.4% while the Nasdaq rose 157 points or 0.7%.

Apple is leading all the averages higher following the release of their latest iPhone last week. Sales and demand so far are ahead of expectations. Oracle is having a good day and good month as the White House officials tell CNBC that Oracle will be the security provider for TikTok. Oracle’s stock is up over 30% for the month following strong earnings and this news regarding TikTok. Nvidia is jumping 3% as they make plans to invest $100 billion in OpenAI as part of a data center build out.

Outside the tech sector, most stocks and sectors are quiet. Pfizer is modestly higher after agreeing to buy a drug company, Metsera for $4.7 billion. Metsera has a drug in clinical trial for obesity and cardiometabolic treatments.  

U.S. Treasury yields are quiet as investors await key inflation gauge this week. The 10-year Treasury yield is up a basis point to 4.14%. The 2-year Treasury yield rose 2 basis points to 3.59%. The 30-year Treasury bond yield gained less than a basis point to 4.76%.

In the commodity space, oil is quiet as Iraq increases exports. Gold is jumping 2% to new all time highs following interest rate cuts last week. Crypto-currencies are taking a hit down 2% or more.

All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it’s usage.