Tech shares concluded a bruising month on a positive note, rallying Monday for the second straight session ahead of a heavy calendar of earnings and economic reports.
Major indices were led by the Nasdaq, following impressive gains by Amazon, Facebook parent Meta and other tech companies.
The tech-rich index finished at 14,239.88, up 3.4 per cent for the day, but down nine per cent for the month.
The Dow Jones Industrial Average climbed 1.2 per cent to 35,131.86, while the broad-based S&P 500 jumped 1.9 precent to 4,515.55.
Stocks have been under pressure for most of January as the Federal Reserve signals a sharp pivot away from accommodation towards monetary tightening.
But over the last two days, investors have returned to the equity market in apparent bargain-hunting.
"US stocks finished the month on a nice note, but rough waters still could be ahead over global tightening pressures," said Oanda's Edward Moya.
"Some of the smart money on Wall Street is still looking to fade every rally as valuations won't live up to their expectations."
This week's calendar includes surveys on the manufacturing and service sectors, the January jobs reports and earnings from Google parent Alphabet, General Motors and other large companies.
Among individual companies, software company Citrix fell 3.4 per cent after agreeing to be acquired by Vista Equity Partners and Elliott Investment Management for $16.5 billion.
Spotify Technology jumped 13.5 per cent as it announced it would start guiding listeners of podcasts discussing Covid-19 to facts about the pandemic.
The move came in response to Neil Young and other artists who pulled songs from the platform in protest of podcaster Joe Rogan's programs discouraging Covid-19 vaccinations.
Boeing surged 5.1 per cent after announcing a pair of major agreements with Qatar Airways to sell the Middle Eastern carrier freighter jets and the 737 MAX.
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