Wall Street rises as AI stocks swing and Brazil tumbles

U.S. stocks rose Monday, with the S&P 500 gaining 0.7% to 7,676.77, recovering last week's losses and moving within 1.8% of its all-time high, amid volatile trading in AI stocks and a sharp drop in Brazilian markets. Nvidia led gains, rising 2.4% after three straight losing weeks, while other AI stocks remained unsettled over concerns about borrowing costs for data centers. Meta Platforms fluctuated after announcing plans to raise $35 billion in stock sales, and SpaceX saw swings following a $40 billion AI computing lease deal. Brazil's Bovespa index fell roughly 14% after President Luiz Inácio Lula da Silva won reelection, raising investor worries about government spending. Alphabet, Microsoft, and Amazon report earnings this week, while the Federal Reserve is expected to hold interest rates steady on Wednesday.