The S&P 500 rose on Monday, boosted by technology stocks, while the Dow Jones Industrial Average reached new heights as investors awaited critical economic data and another batch of earnings reports following a volatile week that ended with the 30-stock index reaching a key milestone.

The broad-based index rose 0.47%, while the blue-chip Dow eked out a 0.04% gain, scoring a fresh all-time intraday high and closing record. The Nasdaq Composite jumped 0.90%.

Nvidia and Broadcom were standouts yet again Monday, extending their gains from the previous session with an advance of 2% and 3%, respectively. Shares of fellow artificial intelligence player Oracle were up 9% after receiving an upgrade to buy from neutral at D.A. Davidson due to optimism around OpenAI and its beneficiaries.

The developments come after the major averages rebounded Friday, with the Dow exceeding 50,000 for the first time ever, following sizable losses suffered earlier in the week. The rout was sparked by a sell-off in tech, led by software stocks. Bitcoin also plunged before recovering some as investors took a risk-off posture.

"Investors are saying, 'Okay, we had a tremendous bounce back. Does that have staying power? Is this something that I could get sucked into and only end up getting trounced, or is this really another buying opportunity?'" said Sam Stovall of CFRA Research.

"We went from a 17% premium to an 8% discount," the chief investment strategist said about tech's forward price-to-earnings ratio compared with its average for the past five years. "You could say, 'Well, gee, that's pretty good, and so maybe it's time not to bail out on technology just yet.'"

To be sure, the market's recent rotation out of tech could play out again this week, if the week's earnings releases are favorable. Coca-Cola and Ford Motor are both slated to report on Tuesday, for instance.

Investors will also be watching for the delayed January jobs report from the Bureau of Labor Statistics, which is due out Wednesday. The release was initially scheduled for last Friday but was postponed due to the partial government shutdown. It also comes after ADP reported last week that private payrolls increased by a mere 22,000 in January, well below expectations. Economists polled by Dow Jones anticipate the closely watched jobs report will show a gain of 55,000 in January.

The January consumer price index reading — which was also delayed by the shutdown — is due out Friday, with the consensus looking for a 2.5% annual rate.