Dow Bounces 500 Points to Start the Week as Oil Pulls Back Toward $95 a Barrel
U.S. stocks rose on Monday while oil prices retreated, as Wall Street attempted to rebound from another losing week and investors continued to monitor the latest developments in the Iran war.
The Dow Jones Industrial Average gained 501 points, or 1.1%. The S&P 500 rose 1.2%, and the Nasdaq Composite added 1.4%.
In tech, Meta shares climbed more than 2% after a report—dismissed by the company as “speculative”—said it was planning to lay off more than 20% of its workforce. Nvidia also rose more than 2% ahead of its GTC conference, which begins Monday.
The move followed a rough stretch for equities: the S&P 500 posted its third consecutive weekly decline and closed at its lowest level of the year on Friday.
Oil had rallied sharply last week, with Brent settling above $100 a barrel for the first time since 2022. Crude surged as shipping through the Strait of Hormuz, a critical energy chokepoint, was effectively halted after the war began.
On Monday, WTI crude traded about 4% lower, just under $95 a barrel, after trading above $100 overnight. Brent fell more than 1% to around $101 a barrel.
Source : Newsmaker.id
