U.S. Dollar Strengthens as Stocks Climb to Record Highs

The U.S. dollar saw a slight rise in late trading on Monday, with the dollar index gaining 0.23 percent to 102.167 at 15:00 (1900 GMT). The euro and British pound both weakened against the dollar, falling to 1.1215 and 1.3219 dollars, respectively, from their previous session values. Meanwhile, the dollar strengthened against the Japanese yen, rising to 158.00 yen, while it also increased against the Swiss franc and Swedish krona. The only decline was against the Canadian dollar, which edged slightly higher.

U.S. stocks closed higher on Monday, driven by gains in artificial intelligence and technology stocks. The Dow Jones Industrial Average rose 0.18 percent, the S&P 500 added 0.66 percent, and the Nasdaq Composite Index hit a record high with a 1.05 percent increase. Ten of the 11 primary S&P 500 sectors ended in positive territory, led by materials and communication services, while real estate was the lone decliner.

Treasury yields climbed back toward multidecade highs, with the 10-year yield settling at 5.31 percent, its highest close since April 2002. The 30-year yield also rose to 5.66 percent, its highest settlement since May 2002. Oil prices fell due to the Group of Seven's agreement to release 100 million barrels of crude and diesel from emergency reserves, alongside recovering Middle East exports. The West Texas Intermediate and Brent crude prices both declined by around 1.8 percent.

On the corporate front, Nvidia continued its upward trend, rising over 2 percent to a record high. PTC soared 33.49 percent after Schneider Electric agreed to acquire it for 205 dollars per share in a 22.6-billion-dollar deal. SpaceX jumped over 7.5 percent after Morgan Stanley initiated coverage with an overweight rating and a 300-dollar target. Western Digital and Seagate also rebounded from Friday's plunge, gaining over 6 percent and 4.5 percent, respectively. Cerebras gained 9.08 percent after OpenAI's Sam Altman called it a "close partner."