Commodities
US Stocks Rally as Oil Prices Ease Back
The US stock market is experiencing a boost on Monday as oil prices and bond yields recede from last week's gains.
The S&P 500 rose by 1.5 per cent, bringing it within 0.4 per cent of its all-time high set in August. The Dow Jones Industrial Average increased by 348 points, or 0.7 per cent, while the Nasdaq composite climbed 2.2 per cent.
The decline in oil prices, particularly for Brent crude which dropped to $100.29 USD, a 3.4 per cent decrease from last week's near-record high of nearly $110, contributed to the market's improvement.
Morgan Stanley's Michael Wilson warned that another surge in oil prices could hinder further growth in the US stock market, as it would increase costs for consumers and businesses.