Close: us stocks closed up 190 points, led by large-scale technology stocks.

In the early morning of the 25th, U. S. stocks closed higher on Monday, while large-scale technology stocks and economic restart concept stocks generally rose. Investors are watching the trend of cryptocurrencies and waiting for key US inflation data this week to be released for monetary policy guidance.

The Dow was up 186.14 points, or 0.54%, at 34393.98; the Nasdaq was up 190.18 points, or 1.41%, at 13661.17; and the S & P 500 was up 41.19, or 0.99%, at 4197.05.

Technology stocks and communications services led gains. FAANG's top five technology stocks-- Facebook (324.63,8.40,2.66%), Apple (127.1,1.67,1.33%), Amazon (3244.99,41.91,1.31%), Netflix (502.9,5.01,1.01%), Alphabet, the parent company of Google (2406.67,61.57,2.63%), and Microsoft (250.78,5.61,2.29%), all closed higher.

The technology sector was supported by the stabilization of the cryptocurrency on Monday after a series of selling last week.

Bitcoin, the largest cryptocurrency by market capitalization, topped $38000 on Monday. At its biggest drop last week, Bitcoin fell more than 50 per cent from its peak of $64800. The price of the second-largest cryptocurrency rose more than 20 per cent to more than $2500.

In recent weeks, Bitcoin has been hit by negative factors such as Musk's criticism of Bitcoin's energy consumption, a change in attitude towards accepting Bitcoin payments and tighter regulation in various countries. The price of bitcoin plunged 13% this past Sunday, down nearly 50% from the year's high. At one point on Wednesday, Bitcoin fell to just over $30000.

With the exception of technology stocks, economic restart concept stocks generally rose. American Airlines, United Airlines Group, Carnival, Norwegian cruise ships and so on generally rose.

Tom Lee, head of research at Fundstrat Global Advisors, said: "We are seeing more and more data showing that market forces are strengthening and that once the stock index breaks through the current trading range, the next step will rise sharply." He pointed out that the data show that the number of new cases of novel coronavirus infection is falling sharply.

As the Memorial Day weekend approaches, the number of new daily novel coronavirus infections in the United States has fallen to its lowest level since June last year. According to Johns Hopkins University, the average number of new cases of novel coronavirus infection in the United States in the seven days ended last week was about 26000.

The three major indexes of US stocks continued to fluctuate last week. During the economic recovery after the outbreak, investors became increasingly uneasy about the prospect of rising inflation and long-term sustainability. This concern has dealt a heavy blow to technology stocks and high-growth stocks. In the past month, the consumer discretionary sector, led by Amazon and Tesla (606.44, 25.56, 4.40%), is down 5.2%, while information technology stocks are down 4.4%.

"I think this is actually a pretty healthy consolidation," said CEO Michael Jones, a Caravel Concepts company. It eliminates some of the excess speculation. The biggest pullback occurred in some of the most expensive stocks. For me, it's all very healthy. "

He added: "I also think the market is very worried about inflation. If the Fed cares about inflation, then we will also be more concerned about inflation. Members of the Federal Open Market Committee ((FOMC)) are sounding the alarm, saying, 'maybe we should start talking about shrinking the table. a lot of the data have been weaker than expected since the last meeting.' "

Other experts agree with the Fed's main view that, so far, upward government inflation indicators such as CPI and PPI, as well as pressures mentioned in corporate earnings, will prove temporary.

The market keeps a close eye on the inflation data. The United States will release its April (PCE) report on personal consumption expenditure on Friday. The market expects the figure to grow 3.5% year-on-year, the biggest increase since 2008. Analysts are already looking to PCE price data for warning signs that US inflation could accelerate and force the Fed to scale back policy.

Traders are also watching the progress of the new US stimulus package after the White House cut infrastructure spending to $1.7 trillion on Friday but failed to win Republican support in the Senate.