Dow Surges Past Record as Tech Stocks Soar

The Dow Jones Industrial Average closed at a record high on Monday, driven by gains in tech stocks and lower oil prices.

The index rose 693.38 points to 53,178.41, a gain of 1.32%.

Amazon's stock led the charge, increasing by more than 4% to reach a market capitalization of over $3 trillion.

Meta Platforms and Nvidia also saw significant gains, rising 6% and 3%, respectively, while Alphabet and Microsoft increased by 5% each.

Jed Ellerbroek, a portfolio manager at Argent Capital Management, attributed the performance to the 'cloud computing giants' being 'very well positioned' and semiconductors remaining in 'rapid growth mode.'