Indexes rose in midday trading in a partial recovery from last week’s selloff.
The S&P 500 Index was up 1.6% to 3,774.25 while the Dow Jones Industrial Average rose 0.8% to 30,233.40 and the Nasdaq increased 2.6% to 13,405.30.
Crude oil jumped 1.7% to $53.08.
Gold ticked 0.9% higher to $1,867.50.
The yield on a 10-year Treasury fell 2.7% to 1.064%.
TECHNOLOGY
Orange County technology stocks largely led Monday gains, led by Irvine-based Skyworks Solutions Inc. (Nasdaq: SWKS). The chipmaker was up 8.4% to $183.49 and a market cap of $30.3 billion. Shares are up 15% since Thursday, when the firm reported better-than-expected results for its fiscal first quarter ended Jan. 1.
Costa Mesa-based artificial intelligence company Veritone Inc. (Nasdaq: VERI) increased 3.7% to $40.72 for a market cap of $1.3 billion. Shares for the company are up by nearly 50% since the start of the year, and by more than 1,000% compared to a year ago.
MEDICAL DEVICE MAKERS
Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) climbed 15% to $16.83 and a $1 billion market cap. Shares of Avid, a contract manufacturer of biologics, are currently trading at about twice their average daily volume, and have more than doubled in the past six months.
