(RTTNews) – U.S. equities advanced sharply on Monday, buoyed by declining Treasury yields and reduced inflation worries sparked by a steep fall in oil prices.
Major indices opened strongly higher and maintained an upward trajectory throughout the session, finishing at their peak levels of the day.
The Dow rose 366.19 points (0.71%) to close at 52,048.83, the NASDAQ jumped 599.55 points (2.26%) to set a new record of 27,122.09, and the S&P 500 added 114.20 points (1.49%) to finish at 7,764.70.
Technology stocks, led by the NASDAQ, drove the rally as optimism resurfaced for major AI hyperscalers. Shares of Advanced Micro Devices (AMD), Seagate, Intel, Western Digital, and Marvell delivered notable gains.
Energy sector equities slipped as oil prices tumbled on expectations that diplomatic negotiations between the U.S. and Iran could ease Middle East tensions. October West Texas Intermediate crude futures fell to $95.70 a barrel, down more than 4.5%.
Additional bullish sentiment emerged as the yield on the 10‑year U.S. Treasury dipped below 5%, reflecting diminished inflation concerns.
Gold prices retreated, ending a three‑day rally, as a stronger U.S. dollar and profit‑taking pressure weighed on the metal. The dollar index rose to 100.42, up about 0.2%, amid expectations of further Federal Reserve rate increases.
Across the Asia‑Pacific, most regional markets rose, with China’s Shanghai Composite gaining 0.97%, South Korea’s KOSPI jumping 1.65%, and Taiwan’s TSE advancing 1.14%. Japan’s Nikkei 225 was closed for a holiday.
European markets also closed higher, rebounding sharply from prior declines amid easing inflation worries.
London’s FTSE rose 79.88 points (0.75%) to 10,739.01, Germany’s DAX climbed 270.95 points (1.07%) to 25,575.01, and France’s CAC 40 added 73.92 points (0.92%) to 8,138.94.