AI stocks lift Wall St as oil falls, Treasury yields decline

Business Recorder reported that Wall Street's main indexes moved higher on Monday, driven by gains in AI stocks, while Treasury yields eased. Crude oil dropped more than 3% to an 11-day low, as hopes grew for progress in Middle East talks during this week's UN meeting.

Chip stocks advanced, with Intel up 9% and Advanced Micro Devices rising 8.5% to become the latest chipmaker valued at $1 trillion. Meta climbed 6.2% to its highest level in over seven months after Wells Fargo raised its price target, while Accenture added 3.5% after teaming up with Anthropic in a $2 billion investment directed at AI evaluation.

Investors also weighed the Federal Reserve's recent increase, its first in three years, along with traders pricing a 50% likelihood of a further rise next month, according to CME's FedWatch. Shares of Greenland-linked companies gained after a US-Denmark diplomatic breakthrough, and Bitcoin rose 5.3% to a more than seven-month high.