Global Stock Market Rises as Oil Prices and Bond Yields Decrease

The global stock market saw a significant increase on Monday, following a decrease in oil prices and bond yields. The S&P 500 rose by 0.6% and came within 1.3% of its all-time high set last month.

The Dow Jones Industrial Average was up 224 points or 0.4% as of 9:35 am Eastern time, while the Nasdaq composite gained 0.8%. Morgan Stanley's Michael Wilson warned that another swing higher in oil prices could hinder the US stock market from reaching its forecasted end-of-year peak.

The decrease in oil prices was partially due to a slight easing of tensions at the Strait of Hormuz, allowing some crude to pass through. However, oil prices are still high and continue to affect global markets.

Stocks related to the artificial intelligence industry saw stabilization following their earlier decline, with Advanced Micro Devices increasing by 4.8% and Nvidia rising by 0.4%. Coinbase Global and Robinhood Markets also gained significantly after Bitcoin's price rose above $85,000.