Closing Bell: Stocks Rebound From Early Monday Selloff

Key Points

• Stocks took a leg higher after President Donald Trump said, “We’ve been called by the other side.” He added, “They’d like to make a deal very badly.”
• Technology names offered a boost to the broader market, with software stocks such as Oracle (ORCL) and Palantir Technologies (PLTR) rising 12.7% and 3.4%, respectively.

Stocks reversed from early losses to rally on Monday as investors hoped that a deal would eventually be struck between the U.S. and Iran. The S&P 500 (SPX) was up 1.02% while the Nasdaq-100 (NDX) rallied 1.06%. The Dow Industrials Index ($DJI) was up 302 points or 0.63% on Monday while the small-cap Russell 2000 (RUT) jumped 1.52%. 

Goldman Sachs Beats Earnings Estimates, Shares Still Slide

Goldman Sach (GS) beats on earnings but stock still suffers. Goldman’s quarterly earnings jumped 19% from a year ago on robust investment-banking fees and record revenue from equities traders as the firm capitalized on a rocky stretch for the stock market. The Investment firm booked first-quarter net earnings of $5.63 billion, or $17.55 a share and Net revenue was $17.23 billion – both beating expectations. Investment-banking fees jumped 48% from a year earlier to $2.84 billion, thanks to meaningfully higher revenue from both advisory work. The bank’s revenue from its fixed-income, currencies, and commodities business was less impressive with a miss of about $900 Million.

Software Stocks Rebound as Oversold Rally Lifts ORCL, CRM, NOW

The software sector staged a meaningful comeback on Monday. Monday’s gains offer the sector its first meaningful relief after months of relentless selling pressure, driven by a combination of deeply oversold conditions, improving macro sentiment, and AI monetization stories the market may have dismissed too quickly. Oracle (ORCL) rallied over 12% on Monday while Salesforce (CRM) and ServiceNow (NOW) were also part of the broad software rally.