Top Movers of the Day

The stock market saw gains on Monday, with the S&P 500 and Nasdaq Composite both ending higher, breaking their three-day losing streaks. However, the small-cap Russell 2000 Index slightly declined. A surprise uptick in homebuilder sentiment, as indicated by the National Association of Home Builders' Housing Market Index, contributed to the positive market sentiment.

Major market benchmarks ended as follows: the S&P 500 rose 0.6%, the Dow Jones Industrial Average gained 0.2%, and the Nasdaq Composite jumped 0.8%. The 10-year Treasury note yield increased to 4.34%, and the Cboe Volatility Index slightly dipped.

Sector-wise, all but two S&P 500 sectors finished in the green, led by communications, information technology, consumer discretionary, and consumer staples. Health care and real estate sectors saw modest declines.

Crude oil prices reached multi-month highs due to strong industrial production data from China and concerns over potential supply disruptions, including a fire at the Slavyansk refinery in Krasnodar and attacks idling around 7% of Russia's refining capacity this year. Brent Crude Oil futures gained 2% on Monday.

• Nvidia: Shares rose about 1% due to the company's GTC Conference, which is seen as significant for artificial intelligence developments. Investors are anticipating new product unveilings and updates from Nvidia.

• Zillow: Shares dipped less than 1%, adding to a 13% decline from the previous Friday. The stock faced pressure after the National Association of Realtors reached a settlement that could lead to lower realtor commissions.

• Alphabet and Apple: Alphabet's shares surged nearly 5% following a Bloomberg report that Apple is in talks to license Alphabet's Gemini artificial intelligence engine for the iPhone. Apple's shares climbed about 1% in response.

• HashiCorp: The stock soared more than 8% after a report suggested that the software provider is considering a potential sale with the help of a financial advisor.

• Taiwan Semiconductor Manufacturing (TSMC): Shares increased 0.2% amid reports that the company is contemplating building a packaging facility in Japan. Additionally, Bank of America raised its price target on TSMC, citing expected strong demand in advanced node technologies driven by AI and other factors.

• Tesla: Shares jumped over 6% after the company announced plans to raise the price of its Model Y by $1,000 starting in April.

• PepsiCo: The stock rose more than 4% following an upgrade to overweight from equal weight by Morgan Stanley. The firm expects PepsiCo's business fundamentals to improve in the latter half of the year.

• Uber Technologies: Shares fell about 1% after Uber agreed to pay over $175 million to Australian taxi drivers to settle a lawsuit alleging that Uber operated illegally in the country before obtaining approval.