Commodities
Oil Price Dip Sends Wall Street Rallying Amid Inflation Worries
U.S. stocks rallied on Monday, nearing their all-time high after oil prices fell due to President Donald Trump's decision to hold off on new strikes against Iran.
The price of Brent crude sank 5% to $83.52, easing worries about the global flow of crude and Treasury yields correspondingly fell in the bond market.
The yield on the 10-year Treasury dropped to 4.68% from 4.75% late Friday, remaining above its pre-Iran war level of 3.97%.
Airlines and companies with big fuel bills led the market, with United Airlines jumping 5.5%, American Airlines climbing 4.7%, and Norwegian Cruise Line Holdings soaring 4.5%.