US Equity Indexes Rise in Midday Trading

US equity indexes rose in midday trading on Monday while Treasury yields declined after better-than-expected economic data.

The Nasdaq Composite rose 1.1% to 22,348.5, with the S&P 500 up 0.8% to 6,689.2. The Dow Jones Industrial Average gained 0.7% to 46,889.

Most sectors were in the green with technology and consumer discretionary sectors leading the gainers.

US Treasury yields fell, with the 10-year yield down 4.6 basis points to 4.239%. The two-year yield slipped 3.6 basis points to 3.698%.

West Texas Intermediate crude oil futures slipped 3.3% to $95.37.

In economic news, industrial production rose 0.2% in February, compared with 0.7% in January and higher than 0.1% forecast by analysts surveyed by Bloomberg.

Manufacturing output for the month rose 0.2% from 0.8% in January and above the 0.1% expected in a Bloomberg-compiled survey.

The National Association of Home Builders' monthly housing market index rose to 38 in March from an upwardly revised print of 37 in the month earlier, and higher than the 37 estimated in a survey compiled by Bloomberg.

In company news, Nebius (NBIS) entered a five-year AI infrastructure supply agreement with Meta Platforms (META) worth around $27 billion. Under the terms, Nebius will supply $12 billion in dedicated capacity utilizing the Nvidia (NVDA) Vera Rubin platform across locations starting in early 2027. Nebius shares rose 13.6%, while Meta shares gained 1.8%.