Monday, December 4, 2023
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Despite Increased Oil Prices Brought on By the Israel-Hamas Conflict, the Dow Closes Over 200 Points Higher

Monday saw a rebound in the stock market as investors released pressure brought on by the deadly Israel-Hamas fighting.

Closed at 33,604.65, the Dow Jones Industrial Average increased by 0.59%, or 197.07 points. By reaching 4,335.66, the S&P 500 increased by 0.63%. The tech-heavy Nasdaq Composite rose 0.39 percent to 13,484.24 on the day.

At the beginning of the day, all of the key indices were lower. The S&P 500 fell 0.6% while the Dow lost 153.89 points at its session lows. Before bouncing back, the Nasdaq fell as much as 1.15%.

Stocks were under pressure early on Monday as a result of the Israeli-Palestinian conflict escalating on Saturday, when the militant group Hamas staged an invasion that Israel appeared to be unprepared for, according to reports. In what Hamas is referring to as Operation Al Aqsa Flood, more than 700 Israelis have died, and the most recent statistics show that 687 Palestinians have also died as a result of Israeli strikes in retaliation on the Gaza Strip. Benjamin Netanyahu, the Israeli prime minister, declared war on his nation as a result of the attack.

Since 2007, the Gaza Strip has been ruled by Hamas, a terrorist organisation with Iranian support.

Source (CNBC)

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