The Nasdaq composite climbed 0.9% as investors returned to battered technology stocks following last week's selloff. Software companies and AI-focused firms led the rebound, with traders snapping up shares that had been oversold during the market downturn.

The recovery came as part of a broader market rally that pushed the Dow Jones Industrial Average to a new record high. Technology stocks had been among the hardest hit sectors last week, creating buying opportunities for investors looking to capitalize on discounted valuations in the sector.

Oracle shares surged 9.6% after co-founder Larry Ellison announced new developments in the company's cloud computing and artificial intelligence initiatives. The strong performance from Oracle helped lift the entire technology sector, demonstrating renewed investor confidence in enterprise software and AI infrastructure providers.