Dow bounces back 575 pts on cyclical boost; Nvidia leads tech stocks lower

Nvidia slips on uncertainty around Arm deal; Kohl's up as Engine Capital urges for sale of e-commerce

The Dow jumped over 1% on Monday as economy-linked banks and energy stocks came roaring back after sharp declines in the previous week, while technology stocks struggled to keep pace as Nvidia dragged down chipmakers.

Blue-chip stocks such as Goldman Sachs, 3M Co , Boeing Co and Chevron Corp all rose more than 1%, powering the Dow Jones Industrial Average higher.

All of the 11 major S&P 500 sectors were trading higher, with financials, industrials, energy

and materials adding more than 1% each.

"Investors are using this as an opportunity to step in to names that they're comfortable with, sort of the large-cap blue-chip