(CNBC) -- U.S. stocks jumped on Monday led by technology shares as investors flocked back into growth names amid declining bond yields.
The tech-heavy Nasdaq Composite gained 1.2% to 13,377.54 as the 10-year Treasury yield retreated. The S&P 500 rose 0.7% to 3,940.59, breaking a two-day losing streak. The Dow Jones Industrial Average climbed 103.23 points, or 0.3%, to 32,731.20.
Shares of Tesla added 2.3% as rates fell and as Cathie Wood’s Ark Invest put out a new price target on the stock which calls for it to quadruple in four years. Apple, Microsoft and Netflix all gained at least 2%, while Amazon and Facebook climbed more than 1% each.
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