Stock market today: S&P 500 snaps 6-day losing streak ahead of Big Tech earnings rush

US stocks rebounded on Monday, with the S&P 500 snapping a six-day losing streak as investors brace for a rush of Big Tech earnings. The S&P 500 rose 0.9% to climb back above 5,000 after closing below the key level on Friday for the first time since February. The Dow Jones Industrial Average added 0.7%, or more than 200 points. The tech-heavy Nasdaq Composite also gained 1.1% as AI darling Nvidia rebounded by adding than 4%.

The focus Monday was on Tesla as the EV maker cut prices in the US, China, and several other countries. Tesla will report quarterly results on Tuesday after the market close. The Elon Musk-led company has already unsettled some investors with its robotaxi push and decision to have shareholders vote again on Musk's rejected pay package. Tesla shares lost 3.4%.

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