U.S. Stocks Surge Amid Democratic National Convention and Economic Symposium

U.S. stocks climbed on Monday, bolstered by the Democratic National Convention and Jackson Hole Economic Symposium. The Nasdaq led gains, with robust consumer data supporting optimism about Federal Reserve rate cuts. All three major U.S. stock indexes rose, and advanced issues outnumbered decliners, signaling market resilience.

U.S. stocks advanced on Monday, buoyed by investor focus on the Democratic National Convention and the Jackson Hole Economic Symposium. All three major U.S. stock indexes surged, with the tech-heavy Nasdaq leading the charge, spurred by significant gains from Nvidia, Alphabet, and Tesla.

The S&P 500 and Nasdaq were on track to extend their winning streaks for an eighth consecutive session, recovering from a sharp sell-off two weeks prior due to recession fears. "Investors are continuing to breathe a sigh of relief that the body blow received by the equity markets two weeks ago did not result in a larger decline," said Sam Stovall, chief investment strategist of CFRA Research in New York.

Recent data showing consumer resilience despite economic softening has bolstered expectations that the Federal Reserve will lower interest rates at its September policy meeting. Analysts anticipate multiple rate cuts by the end of the year as inflation subsides. Meanwhile, the Jackson Hole Economic Symposium kicks off on Thursday, with Fed Chair Jerome Powell's remarks eagerly awaited for clues on future monetary policy.

(With inputs from agencies.)