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© 2026 Benzinga | All Rights Reserved
March 18, 2024 2:01 PM 2 min read

Stocks Rally With Google, Tesla At The Helm, But Rising Oil Prices Spark Inflation Fears: What's Driving Markets Monday?

by Piero Cingari Benzinga Staff Writer
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FlipboardIcon version of the Flipboard logo

Wall Street started the new week on a strong footing, as all major U.S. indices displayed gains during midday trading on Monday, highlighting investor confidence in the continued growth of AI-driven stocks.

The S&P 500 surged by almost 1%, while the tech-skewed Nasdaq 100 staged an even stronger rebound, climbing 1.3% beyond the 18,000-point mark. Blue-chip stocks saw a modest uptick of 0.4%, while small-cap stocks experienced a slight dip.

Meanwhile, Treasury yields continued their upward trajectory, with the 10-year note surpassing 4.33%, poised to conclude the day at its highest levels since late November 2023.

Oil prices maintained their robust market momentum, with West Texas Intermediate (WTI) crude climbing by 1.4% to nearly $82 per barrel.

Bitcoin (CRYPTO: BTC) was 2% lower to $67,000, while gold inched 0.2% higher to $2,160/oz.

Monday’s Performance In Major US Indices, ETFs

Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:XLC) , was the top performer for the day, up 1.8%, while the Real Estate Sector SPDR Fund (NYSE:XLRE) was the laggard, down 0.2%.

Monday’s Stock Movers

Read now: Fed Meeting Preview: These 2 Wall Street Analysts Still Expect 3 Cuts In 2024, But Bond Market Reflects Growing Uncertainty

Image created using artificial intelligence with Midjourney.

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Posted In:
Analyst ColorCryptocurrencyEarningsEarnings BeatsEarnings MissesEquitiesLarge CapMacro Economic EventsNewsSector ETFsBroad U.S. Equity ETFsCommoditiesAsset SalesTreasuriesTop StoriesEconomicsFederal ReserveAnalyst RatingsTechETFsAIelectric vehiclesEVsExpert IdeasStories That Matterwhy it's moving
BTC/USD Logo
$BTCBitcoin
$67016.00-0.36%
Overview
AAPL Logo
AAPLApple Inc
$257.00-0.18%
DIA Logo
DIAState Street SPDR Dow Jones Industrial Average ETF Trust
$475.350.03%
FOUR Logo
FOURShift4 Payments Inc
$48.000.27%
GOOGL Logo
GOOGLAlphabet Inc
$297.13-0.47%
NVDA Logo
NVDANVIDIA Corp
$178.030.12%
PEP Logo
PEPPepsiCo Inc
$158.52-0.57%
QQQ Logo
QQQInvesco QQQ Trust, Series 1
$598.85-0.15%
SAIC Logo
SAICScience Applications International Corp
$95.40-%
SPY Logo
SPYState Street SPDR S&P 500 ETF Trust
$671.45-0.14%
STNE Logo
STNEStoneCo Ltd
$13.72-%
TSLA Logo
TSLATesla Inc
$394.68-0.52%
XLB Logo
XLBState Street Materials Select Sector SPDR ETF
Not Available-%
XLC Logo
XLCState Street Communication Services Select Sector SPDR ETF
Not Available-%
XLE Logo
XLEState Street Energy Select Sector SPDR ETF
$56.670.18%
XLK Logo
XLKState Street Technology Select Sector SPDR ETF
Not Available-%
XLRE Logo
XLREState Street Real Estate Select Sector SPDR ETF
$42.920.07%

The major highlight of the day centered around the prospective AI agreement between Alphabet Inc. (NASDAQ:GOOGL) and Apple Inc. (NASDAQ:AAPL), with further details provided in this article.

Investors are eagerly anticipating the market-shaping event of Nvidia Corp.’s (NASDAQ:NVDA) annual GPU Technology Conference (GTC 2024) on Monday. The majority of analysts and industry observers anticipate the company to unveil insights into its highly anticipated next-generation AI chip.

Major IndicesPrice1-Day Chg%
Nasdaq 10018,037.861.3%
S&P 5005,165.420.9%
Dow Jones38,906.010.5%
Russell 20002,044.23-0.1%

The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.8% higher to $513.59, the SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.4% to $388.30, while the tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) rallied 1% to $438.11, according to Benzinga Pro data. 

  • Tesla Inc. (NASDAQ:TSLA) rose nearly 6%, marking the best performance in the S&P 500 and Nasdaq 100 for the day, after the EV company announced price hikes for its Model Y in the U.S. and Europe.
  • PepsiCo Inc. (NASDAQ:PEP) rose over 4%, on track for the strongest daily performance since April 2020, following a bullish note from Morgan Stanley analysts predicting rising sales this year.
  • HashiCorp Inc. (NASDAQ:HCP) rose over 6% on reports that the company is considering a sale.
  • Science Applications International Corp. (NASDAQ:SAIC) fell nearly 10% after missing earnings forecasts.
  • Shift4 Payments Inc. (NYSE:FOUR) fell 9% after its CEO said that buyout bids inadequately valued the company.
  • Companies expected to report earnings after market close include Embraer S.A. (NYSE:ERJ) and StoneCo Ltd. (NASDAQ:STNE).
BTC/USD Logo
$BTCBitcoin
$67016.00-0.36%
Overview
AAPL Logo
AAPLApple Inc
$257.00-0.18%
DIA Logo
DIAState Street SPDR Dow Jones Industrial Average ETF Trust
$475.350.03%
FOUR Logo
FOURShift4 Payments Inc
$48.000.27%
GOOGL Logo
GOOGLAlphabet Inc
$297.13-0.47%
NVDA Logo
NVDANVIDIA Corp
$178.030.12%
PEP Logo
PEPPepsiCo Inc
$158.52-0.57%
QQQ Logo
QQQInvesco QQQ Trust, Series 1
$598.85-0.15%
SAIC Logo
SAICScience Applications International Corp
$95.40-%
SPY Logo
SPYState Street SPDR S&P 500 ETF Trust
$671.45-0.14%
STNE Logo
STNEStoneCo Ltd
$13.72-%
TSLA Logo
TSLATesla Inc
$394.68-0.52%
XLB Logo
XLBState Street Materials Select Sector SPDR ETF
Not Available-%
XLC Logo
XLCState Street Communication Services Select Sector SPDR ETF
Not Available-%
XLE Logo
XLEState Street Energy Select Sector SPDR ETF
$56.670.18%
XLK Logo
XLKState Street Technology Select Sector SPDR ETF
Not Available-%
XLRE Logo
XLREState Street Real Estate Select Sector SPDR ETF
$42.920.07%
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