Stocks Near Record Highs Oil Exporters Hold Production Steady Amid Iran War
U.S. stocks made a strong push toward all-time highs on Monday, fueled by a pair of buyout deals that lifted market sentiment. The S&P 500 rose 0.7%, placing it just 0.3% away from its summer record. The Dow Jones Industrial Average gained 90 points, or 0.2%, while the Nasdaq composite surged 1.1% to set a new high.
President Donald Trump announced the formation of a new government task force focused on artificial intelligence, dubbed the "Super Intelligence Force." The group will be led by Jay Clayton, Trump’s director of national intelligence. The task force aims to engage with a broad range of stakeholders, including consumers, AI companies, and religious organizations, following a recent White House meeting with top executives from the industry.
In the oil market, seven major exporters agreed to maintain steady production levels in November amid rising prices due to the Iran war. The OPEC+ subgroup, which includes Saudi Arabia, Russia, and others, will reassess the situation on November 1. The conflict, which began with U.S. and Israeli attacks in February, has disrupted global supplies and pushed benchmark Brent crude oil above $100 per barrel.