NEW YORK (AP) — A rally in the technology sector is pushing U.S. stocks to broad gains Monday, led by Apple and chipmakers.
The S&P 500 posted its biggest increase since late January. Nvidia was the index's strongest performer after agreeing to buy chipmaker Mellanox. Apple benefited from an analyst upgrade.
The S&P 500 gained 40 points, or 1.5 percent, to 2,783. The Nasdaq, heavily weighted with tech stocks, jumped 149 points, or 2 percent, to 7,558.
The Dow Jones Industrial Average rose 200 points, or 0.8 percent, to 25,650. A sharp drop in Boeing shares restrained the Dow's advance.
The upbeat start Monday follows the worst week of the year for the S&P 500. Stocks were helped by a U.S. government report showing retail sales rose slightly in January after falling in December.