Dow, S&P 500, Nasdaq whipsaw higher as gold, bitcoin see big swings amid earnings flood

US stocks found a foothold on Monday after a dramatic sell-off in gold and silver unnerved investors, shaking off AI trade worries as earnings flooded in and Federal Reserve uncertainty swirled.

The Dow Jones Industrial Averagerose around 1%, or over 450 points, while the S&P 500 added roughly 0.7%. Meanwhile, the tech-heavy Nasdaq Composite moved up 0.8%, shaking off the premarket malaise for techs. All three indexes suffered a sharp reversal on Friday as precious metals skidded.

Wall Street is heading into a new month, digesting fresh uncertainty around Nvidia and the broader artificial intelligence trade. CEO Jensen Huang played down the chipmaker's pledge to invest $100 billion in OpenAI after The Wall Street Journal reported the plan was on ice. Shares dipped.

Big Tech has led market moves throughout the start of 2026, with earnings leading companies in opposing directions. Quarterly reports from Amazon , Alphabet , and Advanced Micro Devices lie ahead on the docket this week in a wave of corporate earnings, with Disney and Palantir reporting on Monday.

Pressure is easing on stocks amid a roller-coaster ride for precious metals that has unwound much of 2026's most rip-roaring rally. Gold and silver seesawed on Monday. That action followed a Friday wipeout that saw silver post its biggest single-day drop on record.

Over the weekend, bitcoin sank below the $80,000 mark for the first time since April, extending losses after a volatile end to last week. The cryptocurrency was last trading above $78,000 per token. At the same time, the dollar  gained against major peers, rising most against currencies sensitive to commodity prices