Each of the 11 major S&P 500 sector indexes rose, with nine showing gains of more than 1%. (EPA Images pic)NEW YORK: US stocks rallied on Monday, as a drop in oil prices tempered inflation fears and helped the S&P 500 rebound from its biggest weekly drop since April 2025, and tech shares jumped even as AI heavyweight Nvidia slumped with controversy swirling around CEO Jensen Huang.

Last week, stocks slumped after a sweeping victory by Democrats in the US midterm elections fed concerns that new regulations could dent the durability of the AI trade.

Each of the 11 major S&P 500 sector indexes rose on the session, with nine showing gains of more than 1% on Monday. Industrials and consumer discretionary were the top performers, rising more than 3% each.