The stock market closed Monday on a high note, with the Dow Jones Industrial Average reaching a record close as major tech stocks rallied at the start of August trading.
Meanwhile, oil prices fell after President Donald Trump called off planned strikes against Iran.
The Dow surged by 693.38 points, or 1.32%, finishing the day at 53,178.41.
The S&P 500 increased by 1.48%, ending at 7,600.50, just about 0.3% shy of its early June all-time high.
The Nasdaq Composite rose by 2.13% to close at 25,913.90.
The market’s gains were primarily driven by strength in the communications services and technology sectors. Meta Platforms jumped 6% for the day.
Amazon gained more than 4%, reaching a record market capitalization of $3 trillion and hitting a new closing high. Nvidia climbed nearly 3%, while Alphabet and Microsoft each increased close to 5%.
Source (CNBC)
