Newscasts - Wall Street advances as tech bounces further off of recent losses

Workday

09/02/2026 23:12

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Source: 'Reuters - Business videos'

Description: The S&P 500 and the Nasdaq gained after a shaky start on Monday, as technology stocks found their footing following last week's AI-sparked selloff, while investors waited for key economic data that could shed light on the Federal Reserve's interest-rate path. Lisa Bernhard has more.

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Video Transcript:

US stocks ended mostly higher on Monday, with the Dow little changed, the S&P 500 gaining nearly 0.5%, and the NASDAQ adding 0.9%. Software stocks clawed back some losses for a second straight day, after a bruising seven days of declines fueled by fears that AI could intensify competition. The tech gains also come after NVIDIA CEO Jensen Huang on Friday said that AI infrastructure spending was at an appropriate level. Shana Orczyk Sissel is Founder and CEO of Banrion Capital Management.

Last week, software in particular was really beaten up. Oracle in particular was really beaten up over the last few months. And we've seen a rally in those names due to comments from Jensen Huang of NVIDIA and a few other notable technology CEOs related to AI. The market's starting to differentiate between winners and losers in the software space, and I think that's what's driving stock price today in technology.

Shares of Oracle soared more than 9% on Monday after D.A. Davidson upgraded the stock to 'buy' from 'neutral'. But shares of software provider Workday slid more than 5% after the human resources firm announced that co-founder Aneel Bhusri will return as CEO in an effort to leverage AI and shore up demand. And shares of Hims & Hers Health fell 16% on Monday, after what has been an eventful few days for the telehealth firm. Novo Nordisk is suing the company for patent infringement after Hims launched, then canceled, a $49 copy of the Danish drugmaker's weight-loss pill Wegovy following backlash from the US Food and Drug Administration.