Dow Rallies 1,132 Points on Amazon, Tesla Surge; Nvidia Slides on Espionage Probe

The Dow Jones Industrial Average rocketed 1,132 points on Monday, a 2.2% gain that put blue chips firmly in the green. The S&P 500 climbed 2.4% and the Nasdaq composite jumped 2.7% as megacaps carried the tape. Futures pointed to a quiet open Tuesday: Dow contracts up 0.1%, S&P 500 futures up 0.1%, Nasdaq-100 futures down 0.1% overnight.

Amazon did the heavy lifting, rising nearly 3% and pushing further up the right side of a cup base with a 287.20 buy point — investors watching for a handle that could offer a cheaper entry. Tesla raced 5.5% higher, reclaiming its 50-day moving average while still stuck below its 200-day line.

Nvidia was the outlier, diving 4.3% after its board of directors launched an independent investigation, the company said in a Sunday statement. The probe follows reports that founder and CEO Jensen Huang was the target of a foreign espionage plot; Huang reportedly told employees he had an affair with a woman alleged to be a Chinese spy.

Monday's late session belonged to earnings. Hims & Hers Health slipped nearly 2% after hours, Occidental Petroleum lost less than 1%, Qualys tumbled 8% and Rocket Lab fell 8%. Sanmina surged 21%, while Zeta Global edged down 0.5%.

Attention now shifts to Tuesday's CPI inflation report, expected to show core prices up a moderate 0.2% for the month and the 12-month core rate at 2.7%, up from 2.6%, according to the FactSet consensus. The producer price index lands Friday, with Thursday bringing existing home sales, the Treasury's monthly budget update and weekly jobless claims.

Oil settled sharply lower at $86.85 a barrel, its weakest close since Aug. 31 per Dow Jones Market Data, while the 10-year Treasury yield ticked up to 4.86%. This week's earnings slate includes Cisco Systems, CoreWeave and Nebius, plus holiday-season reads from Macy's, Sally Beauty and Williams Sonoma. Monday produced five fresh breakouts, notably JFrog clearing an entry at 105.76, with Five Below closing in on a 263.88 cup-base buy point among 23 names near pivot.