On Monday, the three major indexes collectively closed higher, driven by the rise in the share prices of Microsoft and Nvidia, with the Nasdaq rising by more than 1%.

As of the close, the Dow Jones Index rose 0.58% to 35,151.04 points; the S&P 500 Index rose 0.74% to 4,547.38 points; the Nasdaq Index rose 1.13% to 14,284.53 points.

Microsoft rose more than 2% and hit a record high during the session. Previously, Microsoft CEO Satya Nadella announced that former OpenAI CEO Sam Altman will join Microsoft to lead a new artificial intelligence (AI) research team.

Nvidia rose more than 2% and closed at a record high. The company will announce its third-quarter financial results after the market opens on Tuesday, Eastern Time.

U.S. bond yields extended recent declines after a previous auction of 20-year U.S. Treasury notes performed strongly. Bond prices are inversely related to yields. The 10-year U.S. Treasury yield closed at 4.421%, down from 4.441% on Friday.

Popular stock performance

Large technology stocks rose across the board, with Apple up 0.93%, Microsoft up 2.05%, Tesla up 0.55%, Google up 0.69%, Amazon up 0.65%, Meta up 1.47%, Nvidia up 2.25%, and Netflix up 1.84%.

Popular Chinese concept stocks generally rose. The Nasdaq China Golden Dragon Index rose 3.55%, Alibaba rose 1.11%, JD.com rose 3.40%, Pinduoduo rose 3.15%, NIO rose 5.55%, and Xpeng Motors rose 8.58%. Ideal Automobile rose 3.68%, Bilibili rose 4.15%, Baidu rose 2.95%, NetEase rose 1.14%, Tencent Music rose 6.81%, and iQiyi rose 2.95%.