NEW YORK (AP) 鈥� U.S. stocks are rising Monday and recovering some of their losses from .
The S&P 500 climbed 0.6% and was on track to break a five-day losing streak. It鈥檚 coming off just its second losing week in the last 13. The Dow Jones Industrial Average was up 282 points, or 0.5%, as of 10 a.m. Eastern time, and the Nasdaq composite was 0.9% higher.
Comcast helped lead the way and jumped 9.5% after saying it will , including its theme parks, and Sky from its broadband and wireless business. It came into the day with a loss of 17.3% for the year so far.
Several stocks boosted by the boom also rose after Samsung Electronics and SK Hynix said they will invest roughly , as its president hopes to capitalize on surging AI demand. Applied Materials rallied 4.9%.
AI stocks have been on a roller coaster recently after in the frenzy around AI technology. They鈥檙e because of worries that their profits can鈥檛 possibly keep pace with the huge gains for their stock prices. And the drops have an outsized effect on investors because AI stocks have become some of Wall Street鈥檚 largest and most influential, giving them more weight on indexes than others.
SpaceX, which owns the xAI business along with rockets, has already become worth more than $2 trillion after selling its stock , even with sharp rises and falls along the way. It鈥檚 become big enough that Nasdaq said Elon Musk鈥檚 company will join the Nasdaq 100 index before trading begins on July 7, which will .
SpaceX rose 1.5%.
That helped offset a 6% drop for Verizon Communications, which said it is paying $625 million as part of a deal to combine its international wireline connectivity and managed network services business with some of London-based BT Group’s subsidiaries in a joint venture.
The gains for the stock market came even though oil prices rose. The price for a barrel of Brent crude, the international standard, climbed 1.2% to $73.46, pulling slightly above where it was before the war with Iran began. A barrel of benchmark U.S. crude rose 1.2% to $70.05.
Following , President Donald Trump that Iran had requested a meeting with U.S. counterparts, though one of Iran鈥檚 top negotiators said no further talks had been scheduled.
The hope is that an end to the war with Iran will give oil tankers free access again to the Strait of Hormuz, allowing them to exit the Persian Gulf and deliver crude to customers worldwide. That would help lower the price of oil, whose jumps because of the war have sent a around the world.
If oil prices do recede and stay low enough, it could keep enough pressure off inflation to allow and other central banks to keep interest rates steady or even cut them instead of hiking them. Higher interest rates can keep a lid on inflation, but they also slow the economy and hurt prices for all kinds of investments. have been rattling investors since oil prices burst above $100 per barrel.
The yield on the 10-year Treasury edged down to 4.37% from 4.38% late Friday and from 4.56% early this month.
In stock markets abroad, indexes were mixed across Europe and Asia.
Stocks jumped 1.6% in Hong Kong and 1.2% in Shanghai for two of the world鈥檚 biggest gains, while South Korea鈥檚 Kospi slipped 0.2%.
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AP Business Writers Chan Ho-him and Matt Ott contributed to this report.
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