21.09.202613:36:18UTC+00US Stocks Extend Increases

US equity benchmarks advanced for a third consecutive session on Monday as a pullback in oil prices helped drag down Treasury yields, briefly offsetting a worsening macroeconomic backdrop. The S&P 500 and Dow Jones Industrial Average each climbed more than 0.5%, while the Nasdaq 100 gained 1%.

Signs that GCC states had stepped up diplomatic efforts to persuade Tehran to lift its blockade on fuel tankers pushed crude and refined product prices further off their monthly highs, easing recent pressure on US government bonds. The resulting decline in borrowing costs improved the outlook for AI hyperscalers to keep issuing record volumes of debt, bolstering demand for chipmakers and AI infrastructure names. The sector was also in focus amid renewed debate over AI safety risks.

Intel, AMD, Seagate, Marvell Technology, and Western Digital advanced between 3% and 5%. Meta Platforms gained more than 2.5% following positive reception to its Muse AI agent. Banks also moved higher as funding costs eased, with Citigroup up 1.5%. JPMorgan Chase added 1% after announcing a $20 billion partnership with Qatar.