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Listen to this article in summarized format According to preliminary data, the S&P 500 gained 51.50 points, or 0.67%, to end at 7,774.22 points, while the Nasdaq Composite gained 289.42 points, or 1.06%, to 27,480.28. The Dow Jones Industrial Average rose 94.59 points, or 0.18%, to 51,274.32. It was the Nasdaq's second day of sharp gains after weaker-than-expected jobs data on Friday dampened expectations for an interest rate hike from the Federal Reserve at its policy meeting this month. AI heavyweight Nvidia and Microsoft gained ground. Meta Platforms and Tesla also rose. Oil prices slipped after crude exports from the Middle East increased and the Group of Seven nations pledged to boost supplies. "With the economic data calendar being light and earnings about a week away, investors are really groping for anything positive to glom onto, and clearly they're looking at lower energy prices," said Art Hogan, chief market strategist at B. Riley Wealth. BANKS KICK OFF THIRD-QUARTER RESULTS Third-quarter earnings season kicks off next week with reports from large US banks. Analysts on average see S&P 500 earnings jumping over 30% year over year, thanks largely to AI-related stocks, according to LSEG data. Following jobs data on Friday that showed US job growth slowed more than expected in September, traders see a 24% chance of an interest rate hike at the Fed's October meeting, down from a 70% chance a week ago, according to CME's FedWatch tool. PTC surged after France's Schneider Electric agreed to acquire the software firm in a $22.6 billion all-cash deal. The Nasdaq's previous record high close was on September 22. Optimism about robust corporate earnings has helped US stocks outperform global rivals in the last six months, despite rising Treasury yields and higher oil prices related to the US war with Iran. RXO jumped after freight forwarding firm C.H. Robinson Worldwide agreed to buy the transportation broker in a stock-and-cash transaction for $5.8 billion. C.H. Robinson fell. Cerebras Systems rose after OpenAI CEO Sam Altman said on social media the chip designer is a "close partner" and that the companies have "deep engagement pushing on the frontiers of speed." (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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