Bulls came roaring back Monday as the S&P 500 climbed 1.55%, with technology and semiconductor stocks leading a broad rebound. The Nasdaq Composite jumped 2.3% to a record close, while the S&P 500 finished within roughly 0.4% of its record high as falling oil prices and Treasury yields eased pressure on equities.

The overnight session started higher as investors responded to a sharp decline in crude prices and optimism surrounding upcoming U.S.-China discussions. S&P 500 futures reached into the 7,770s ahead of the opening bell, with the December contract reported around 7,765.75 in early trading.

The rally accelerated after the opening bell as semiconductor stocks surged and Treasury yields moved lower. The 10-year Treasury yield finished at 4.962%, while WTI crude fell to roughly $95.78 and Brent settled near $100.34, helping ease some of the inflation pressure that had weighed on stocks in recent sessions.

Among the top components of the index, Meta Platforms Inc (NASDAQ: META) emerged as the biggest gainer. The tech conglomerate was able to advance by $76.02, or 11.43%, to close at $741.25 for the day. Meta’s rally came after Wells Fargo raised its price target and as the company’s Muse AI assistant gained momentum ahead of this week’s Meta Connect event.

That performance was over 7 times better than the cash index’s advance of 1.55%.

Conversely, the biggest loser ended up being Berkshire Hathaway Inc Class B (NYSE: BRK.B). For the day, the holding company declined by $7.76, or 1.52%, to close at $502.01.