Stocks Rebound as Retail Data and Earnings Drive Market Momentum

The Nasdaq Composite led the gains in the US stock market, rising over 1% as tech stocks rebounded. Nvidia's surge of 7% boosted the tech-heavy index. The S&P 500 climbed about 0.6% and the Dow Jones Industrial Average rose around 0.1%. Investors are awaiting retail sales numbers and earnings reports from major retailers like Home Depot, Target, and Walmart. Tesla shares sank after the company cut prices in China, signaling weakening demand. The demand for AI experts is increasing, with companies like Netflix and Walmart offering top dollar for talent in data science and machine learning. UBS has agreed to pay $1.44 billion in penalties to settle allegations of fraud in the sale of residential mortgage-backed securities.