Dow jumps 328 points as Oracle and Nvidia deals boost tech sector

Dow jumps 328 points as Oracle and Nvidia deals boost tech sector

Johannes Eisele/AFP/Getty Images

US stocks rallied on Monday on new tech-sector deals and shifting investor sentiment.

Oracle leaped after the company won its bid to partner with TikTok's US operations.

Nvidia's announcement that it would purchase Arm Holdings from SoftBank in a $40 billion deal boosted semiconductor stocks including Micron and Qualcomm.

Oil traded mostly lower after OPEC lowered its forecast for the commodity market's demand recovery. West Texas Intermediate crude fell as much as 1.4%, to $36.82 per barrel.

Watch major indexes update live here.

US equities gained on Monday as a spate of new deals fueled a tech-stock rally from recent lows. Apple, Facebook, and Tesla all climbed as investors turned back to mega-cap companies that have been slammed in recent weeks.Oracle surged after the company confirmed its partnership bid for TikTok's US operations was selected by ByteDance. The firm is expected to take a sizeable stake in the platform. News of the partnership came days before the White House's deadline for a deal.Microsoft underperformed the tech sector after its offer to partner with TikTok was denied.Here's where US indexes sat at the 4 p.m. ET market close on Monday:
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