Dow Surges Past Record High Amid Oil Price Drop and Tech Rally

The Dow Jones Industrial Average closed at an all-time high on Monday after major indexes surged following a significant drop in oil prices. The rally, which picked up speed as Brent crude and US oil prices fell by around 5%, was also fueled by the news that Donald Trump had called off an attack on Iran and peace talks were set to resume.

The Dow Jones Industrial Average rose nearly 700 points to a record close of 53,178.41, while the S&P 500 ended the day within striking distance of its own record high. The Nasdaq 100 was up by over 2% as investors returned to beaten-down tech stocks, particularly hyperscalers and memory stocks.

Some notable movers included Microsoft (+5%), SanDisk (+5%), Alphabet (+4%), Amazon (+4%), and Nvidia (+2%). Treasury yields also eased, with the 10-year Treasury bond yield falling by 5 basis points to 4.68%.