# Wall Street Posts Strong Recovery as Tech Leads the Charge

U.S. equities staged a impressive comeback on Monday, with the Nasdaq leading the rally after last week's heavy selling. Here's what moved the needle:

**The Numbers**
- Nasdaq: +598.92 pts (+2.7%) to 22,872.01
- S&P 500: +102.13 pts (+1.6%) to 6,705.12
- Dow Jones: +202.86 pts (+0.4%) to 46,448.27

While the gains look solid on the surface, keep in mind all three indices still closed the prior week deep in the red—Nasdaq down 2.7%, S&P 500 off 2.0%, and Dow lower by 1.9%.

**What's Fueling the Bounce**

Three major tailwinds are at play here:

1. **Chip sector heating up** — Semiconductor stocks crushed it with a 4.6% surge, rebounding hard from Thursday's two-month lows. This dragged the broader tech sector along for the ride.

2. **Fed pivot softening** — Fed Governor Christopher Waller doubled down on dovish signals this morning, backing another 0.25% rate cut in December. The CME FedWatch Tool now prices in an 84.9% probability—that's a massive jump from 42.4% just a week ago. Translation: bond yields sinking as traders bet rate cuts are coming.

3. **Ukraine peace talks gaining traction** — Secretary of State Marco Rubio signaled "tremendous progress" in negotiations, calling remaining sticking points "not insurmountable." Less geopolitical risk = risk-on sentiment.

**Sector Snapshot**
Gold stocks outperformed with a 5.8% jump as the yellow metal caught a bid. Airlines, brokerages, and biotech also participated in the rally. Pretty much everything outside utilities had a decent session.

**Global Context**
Asia-Pacific followed suit—Hang Seng +2.0%, ASX 200 +1.3%. Europe played it mixed: DAX up 0.6%, but FTSE and CAC turned slightly negative.

**What's Next**
Tuesday could see volatility around delayed retail sales and producer price reports for September, plus November consumer confidence data. These economic breadcrumbs will matter more if the Fed signals are shifting.