Stocks rose on Monday, as technology names recovered some losses from last week's sell-off as bond yields declined. Bank stocks, industrials and other cyclical shares underperformed, while tech shares and other growth names renewed their strength as the market adjusted its rotation. All three benchmarks ended the day in the green, with the tech-heavy Nasdaq outperforming.

The 10-year U.S. Treasury yield fell by 5 basis points to about 1.68% after reaching 14-months highs last week. The yield is still hovering around one-year highs as the market is optimistic towards continuous economic recovery.

Meanwhile, existing homes sales fell at a more-than-expected rate of 6.6% in February over January to a seasonally adjusted annual rate of 6.22 million, according to the National Association of Realtors. Additionally, January existing home sales were revised slightly lower to 6.66 million from their previous 6.60 million, representing an increase of just 0.2% over December.

Here's how the market settled to start the week:

S&P 500 Index (SPY  ): +0.70% or +27.46 points to 3,940.56

Dow Jones Industrial Average (DIA  ): +0.32% or +103.17 points to 32,731.14

Nasdaq Composite Index (QQQ  ): +1.23% or +162.31 points to 13,377.54

For Stocks, Tesla (TSLA  ) shares rallied after Cathie Wood's Ark Invest issued a new bullish price target on the electric car makers, now expecting the stock to reach $3,000 per share by 2025, or more than quadrupling from its current share price. Megacap tech stocks also gained, with Apple (AAPL  ), Microsoft (MSFT  ) and Netflix (NFLX  ) outperforming at over 2%.

For Sector Performance, sectors ended Monday's session mostly higher, with Real Estate (XLRE  ), Consumer Staples (XLP  ) and Information Technology (XLK  ) rising over 1%, while Energy (XLE  ) and Financials (XLF  ) lead losses.

For Commodities and Currency, the U.S. Dollar (UUP  ) slipped on Monday against a basket of six global currencies as U.S. Treasury yields declined. The dollar index fell about 0.35% to 92.09 during the session. Gold (GLD  ) prices also dipped lower as investor interest in the yellow metal dulled as U.S. equities gained on Monday. Spot gold decreased 0.3% at $1,738.93 per ounce, while U.S. gold futures settled 0.2% lower at $1,738.10 per ounce. Crude oil futures steadied on Monday as investors bet on increases in demand later this year. International benchmark Brent Crude (BNO  ) rose 0.1% to $64.59 per barrel, while domestic index West Texas Intermediate (USO  ) for May climbed 0.2% to $61.58 each.

For Tuesday, investors will turn their attention to new homes sales for February as well as GameStop's (GME  ) first earnings report since its extraordinary retail investor rally earlier this year.