Stocks edged higher, as investors scooped up tech shares following a recent dip.

The Dow Jones Industrial Average climbed 16 points, or 0.1%. The S&P 500 gained 0.4%, and the Nasdaq Composite advanced 0.6%.

Oracle shares jump 10% as cloud growth fuels strong results.

Nvidia and Amazon were both higher by about 1.5%. Microsoft shares also added more than 0.5%. The moves come after traders had dumped the risk assets last week — amid a broader market fallout — over concerns about the health of the U.S. economy.

On the earnings front, cloud platform company Oracle surged about 8% after posting fiscal first-quarter results that topped expectations and announcing a partnership with Amazon Web Services to provide database services.

On Monday, the three major averages made a sharp comeback after a rocky first trading week in September, historically a rough month for equities. The S&P 500 popped 1.16% to snap a four-day run of losses and post its first winning day in September, after just having its worst week since March 2023. The Nasdaq Composite also closed 1.16% higher, aided by a jump in Nvidia, after ending Friday with its worst week since 2022. The Dow climbed 484 points, or 1.2%.

These moves come as investors bet that a widely anticipated interest rate cut at the Federal Reserve ’ s Sept. 17-18 meeting could help assuage concerns over a weakening economy. August ’ s payrolls report, which came out last Friday, reflected growth of 142,000, below economists ’ expectations, and helped fuel a sell-off that day.

Traders have their eyes on two key economic reports that will likely be the next catalysts for stocks. The consumer price index report for August is due out Wednesday, followed by the producer price index on Thursday.

Investors remain cautious about seasonality ’ s effect on stock performance as well as uncertainty around the approaching U.S. presidential election on Nov. 5.

"We concur with the view that the market is likely to remain choppy at least until the election," Bank of America equity and quantitative strategist Ohsung Kwon wrote Monday. "Macro data have been weakening, especially in manufacturing/goods, which represent 50% of earnings for the S&P 500."