Oil Prices Ease, US Stocks Surge to Near Record High
US stocks are on the rise after oil prices and bond yields eased on Monday. The S&P 500 rose by 1 percent, nearing its all-time high set last month.
The Dow Jones Industrial Average was up 193 points, or 0.4 percent, while the Nasdaq composite increased by 1.6 percent.
Oil prices are still high but have dropped from their peak of nearly $110 to $100.29 per barrel after some crude oil from the Middle East began sailing through the Strait of Hormuz.
The war with Iran is still a concern, and Morgan Stanley's Michael Wilson warns that another price surge could hinder US stock market growth.
The average price for regular gasoline in the US has climbed to nearly $4.48 per gallon, while the 10-year Treasury yield eased to 4.96 percent from 5.01 percent on Friday.