Nasdaq rises ahead of Nvidia: Today’s stock market news

As Wall Street tries to shake off a dreadful August, US markets closed higher on Monday, boosted by a sharp rise in technology stocks.

The Nasdaq Composite (IXIC) led the day’s profits, rising more than 1% as the index tried to recover from two weeks of steep losses. A 7% rise in Nvidia (NVDA) lifted the tech-heavy index.

Meanwhile, the S&P 500 (GSPC) was up around 0.6% and the Dow Jones Industrial Average (DJI) gained around 0.1%.

Markets are bracing for an update on the health of the US consumer in the form of retail sales figures and earnings from many of the country’s leading retailers, including Home Depot (HD), Target (TGT) and Walmart (WMT). Yahoo Finance will also present a week-long special, Retail Evolution: The New Era, beginning Monday morning during our livestreamed programming.

Meanwhile, the minutes of the Federal Reserve’s latest policy meeting will be released, where the central bank resumed its campaign of interest rate hikes. Wall Street will be looking for any clues as to the Fed’s next move in September.