Commodities
US Stock Market Hits New Highs as Oil Prices Ease
The US stock market continued its upward trend on Monday, with the S&P 500 reaching within 0.4% of its all-time high set last month.
The Dow Jones Industrial Average rose by 366 points, or 0.7%, while the Nasdaq composite surged 2.3% to a new record.
The rally was fueled by a decline in oil prices and bond yields, which had been contributing to market volatility.
Oil prices fell 3.4% to $100.34 per barrel, easing concerns about inflation and its impact on the economy.
Morgan Stanley's Michael Wilson warned that another increase in oil prices could hinder further gains in the US stock market.