Nasdaq Rallies 1.1% Ahead of Nvidia GTC as Oil Slides

U.S. stocks rose early Monday in New York as investors bet that Nvidia's GTC conference could revive confidence in the artificial-intelligence trade, even as the market continued to absorb fallout from attacks tied to the Iran conflict and looked ahead to this week’s Federal Reserve meeting. The Dow Jones Industrial Average rose 372.71 points, or 0.80%, to 46,931.2. The S&P 500 added 62.36 points, or 0.94%, to 6,694.55, while the Nasdaq Composite climbed 245.71 points, or 1.11%, to 22,351.1, led by gains in technology shares. Investor attention is fixed on Nvidia’s GTC event, which runs March 16-19, with Jensen Huang’s keynote scheduled for today at 2 pm ET, according to Nvidia. Investors are watching for new chips, software updates and further detail on Nvidia’s longer-term AI roadmap.

The upbeat tone in equities came despite continued geopolitical strain in energy markets. Iran launched fresh attacks across the Persian Gulf and Fujairah, a key UAE oil hub, was hit again Monday. Reuters separately reported that oil-loading operations tied to  Abu Dhabi National Oil Company ADNOC were still disrupted at Fujairah after a drone strike, underscoring persistent supply risks.

Even so, Crude Oil Apr. 2026 at 95.58, down 3.13, or 3.17%, suggesting traders are pulling back from earlier panic or reassessing the immediate supply hit. That retreat in crude may also have eased some inflation anxiety after oil’s recent surge.

The other major focus for investors is the Federal Reserve. The Fed’s next policy meeting begins Tuesday and concludes Wednesday, with a press conference scheduled for March 18. AInvest reported February CPI was essentially a non-event for markets because it predated the latest energy shock, leaving investors to judge whether higher oil prices will complicate the inflation picture in coming months.

For now, Wall Street’s early message is that enthusiasm around AI and Nvidia is outweighing war-driven caution. The next tests are close at hand: Huang’s remarks later today, producer-price data on Wednesday, and the Fed’s policy decision Wednesday afternoon.