Big Tech and other superstars of the US stock market are rallying on Monday, helping Wall Street recover some of its loss from last week.

The S&P 500 rose 0.8 per cent to claw back close to half its drop from last week, which was its first weekly loss in four. The Nasdaq composite jumped 1.4 per cent, while the Dow Jones lagged behind. The Dow, which has less of an emphasis on technology stocks, was down 8 points, or less than 0.1 per cent, in lunchtime trade.

The Australian sharemarket is set to rise, with futures pointing to a gain of 36 points, or 0.4 per cent, at the open. The ASX rose 0.8 per cent on Monday. The Australian dollar is trading at US65.39¢ at 5.15am AEDT.

Nvidia was by far the strongest force pushing the market upward and rose 3.3 per cent. It and other winners in the

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