Stocks Settle Sharply Higher as Crude Prices Plunge and Chipmakers Soar

NASDAQ sign at times square at night by Lucky-photographer via iStock The S&P 500 Index ($SPX) (SPY) closed up by +1.49% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.71%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.83%. December E-mini S&P futures (ESZ26) rose +1.50%, and December E-mini Nasdaq futures (NQZ26) rose +2.84%. Stock indexes rallied sharply on Monday, with the S&P 500 posting a 5-week high and the Nasdaq 100 posting a 3-month high. Stocks surged Monday after crude oil prices plunged, pushing bond yields lower and improving market sentiment. WTI crude sank more than -4% to a 1.5-week low, and the 10-year T-note yield fell -3 bp to 4.96%.