The Dow Jones Industrial Average closed at a record high Monday as Big Tech shares rallied and oil prices fell after President Trump called off planned strikes on Iran. The S&P 500 and Nasdaq Composite also advanced, with Meta, Amazon, Nvidia, Alphabet and Microsoft leading the gains.
The Dow Jones Industrial Average jumped 693 points, or 1.3%, a record closing high driven by gains in Big Tech stocks and a slide in oil prices.
Monday's close beat the previous record, set just north of 53,000 on July 6. The S&P 500 gained 1.5%, approaching the all-time high it reached in early June. The Nasdaq Composite advanced 2.1%.
Communications-services and technology shares led the rally. Meta Platforms surged nearly 6%. Amazon rose more than 4%, hitting a record $3 trillion market capitalization.
Nvidia popped 3%. Alphabet and Microsoft each climbed around 5%. The advance reversed a rough July, when the tech-focused XLK ETF tanked nearly 8% amid AI-spending concerns.
Oil prices fell after Trump said he called off a planned strike on Iran and that talks between the two countries would resume Monday. Brent crude futures lost 5% to $83.46 a barrel. West Texas Intermediate futures slid more than 7% to $78.59 a barrel.
Treasury yields also fell, with the 10-year note slipping 6 basis points to about 4.68% as inflation worries eased slightly.
Source: US Top News and Analysis
Trading involves risk.
Risk Disclaimer
