US Stocks Soar on Eased Middle East Tensions

US stock indexes rose more than 1% on August 3 as tensions in the Middle East eased, pushing oil prices and Treasury yields lower.

The Dow Jones Industrial Average gained 693.38 points, or 1.32%, to 53,178.41, while the S&P 500 climbed 110.78 points, or 1.48%, to 7,600.50. The Nasdaq Composite rose 540.04 points, or 2.13%, to 25,913.90.

The market's advance was led by large technology stocks, with Alphabet rising 4.44% and Microsoft gaining 4.93%. Amazon added 4.58%, lifting its market capitalization above $3 trillion.