Wall Street climbs on boost from tech stocks

Wall Street’s main indexes advanced on Monday, with the Nasdaq rising 1.5%, as investors flocked to rate-sensitive technology shares while gearing up for key inflation readings later this week.

Risk sentiment also improved with cryptocurrencies clawing back ground after a bout of weekend selling fueled by further signs of a gathering Chinese crackdown on the emerging sector.

Crypto-exchange operator Coinbase Global (COIN.O) and miners Riot Blockchain (RIOT.O) and Marathon Digital Holdings (MARA.O) gained between 1.9% and 4.4%.

Technology (.SPLRCT) added 2%, leading sectoral gains as yields on the benchmark 10-year Treasury bond hit a two-week low.

Apple Inc (AAPL.O), Microsoft Corp (MSFT.O) and Nvidia (NVDA.O) providing the biggest boost to the benchmark S&P 500. Tech is among the worst-performing S&P sectors this month.