Tech Industry Cheers Possible Rate Pause

The tech-heavy Nasdaq Composite enjoyed the biggest jump in the US stock market on Monday, with hopes for a pause in interest rates helping to send stocks higher. Traders are betting there's a 72% chance the Federal Reserve will keep rates unchanged at this week's meeting. The technology sector, which is more sensitive to rate fluctuations, especially benefitted. Big Tech stocks mostly rose at least 1%, with Apple hitting an all-time high of $183.79 per share. Meanwhile, Oracle's better-than-expected earnings report pushed its shares 3% higher in extended trading.