U.S. Stocks Rebound as Iran Plans Hormuz Reopening

U.S. stock markets rebounded on Monday, recovering from a tech-led sell-off. The S&P 500 rose 0.5%, the Dow Jones Industrial Average climbed 391 points, and the Nasdaq composite increased 0.7%. This recovery coincided with a 5.9% drop in Brent crude oil prices to $106.65, triggered by an announcement from Iran regarding a two-day plan to reopen the Strait of Hormuz and resume nuclear talks with the United States.

In the technology sector, Alphabet Inc. and Nvidia saw modest gains, though investors remain concerned about the profitability of large-scale AI infrastructure investments. Marvell Technology announced a deal to acquire Lumentum for approximately $115 billion.

Global markets also showed strength. The People's Bank of China launched a 100 billion yuan ($15 billion) program to support its domestic market, and South Korean indexes rose on technology strength. In the hospitality sector, Marriott International reported strong global summer profits, with CEO Anthony Capuano noting that business trends in the Middle East "improved meaningfully."