US stocks rose on Monday as the AI trade remained in focus ahead of a busy week of earnings and inflation data.

The Dow Jones Industrial Average ( ^DJI ) rose 1.7%, while the S&P 500 ( ^GSPC ) gained 2.1%. The Nasdaq Composite ( ^IXIC ) climbed 2.6% after all three indexes posted losses last week.

All eyes were on the artificial intelligence trade following a volatile post-election shake-up in markets and the revelation that Nvidia's (NVDA) board is opening an investigation into CEO Jensen Huang over his affair.

Several news outlets reported last week that the US believes Huang had a romantic relationship with Alice Huang, a Chinese businesswoman who is alleged to have been recruited to spy for China's intelligence agency. In a memo to employees obtained by the FT, Huang admitted to marital infidelity, stating, "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry."

Nvidia stock fell as much as 8% Monday, before selling eased. Broader stock indexes appeared to shrug off the news as they continue to recover from a bruising sell-off last Thursday.

Last week's slide in energy prices continued Monday with Brent Crude Futures (BZ=F) hovering at $95 per barrel.

The biggest swell of third quarter earnings results is in the books, with just a few more weeks in the reporting season. On Monday, Hims and Hers (HIMS), Rocket Lab (RKLB), and Monday.com (MNDY) are among the companies sharing earnings.

The week starts off with light economic data, with wholesale trade data serving as the primary report.