US Stock Market Hits Record High as Oil Prices Cool
The US stock market closed higher on Monday, with the S&P 500 ending 1.5% higher and the Nasdaq 100 rising 1.8%. The Dow Jones Industrial Average also gained ground, reaching a record high of 53,178.41.
The gains were driven by strong performance in big tech stocks, cooling oil prices, and easing bond yields. International Brent crude futures fell 4.73% to $83.77 a barrel, while West Texas Intermediate futures settled down 5.11% at $80.34 per barrel.
President Trump's decision to cancel plans to attack Iran over the weekend also contributed to the market's positive sentiment. However, analysts caution that investors should remain cautious due to ongoing tensions between the US and Iran.
Among individual stocks, Boeing rose after the Federal Aviation Administration certified its 737 MAX 7 aircraft. Exxon Mobil and Chevron came under scrutiny from President Trump, who criticized their pricing practices amid high oil prices.