US stock markets saw significant gains on Monday. By the close in New York, the Dow had reached 52,048 points, marking an increase of 0.7 percent compared to the previous day. Moments before, the broader S&P 500, which stood at approximately 7,765 points, was up 1.5 percent, and the technology-focused Nasdaq reported the Nasdaq 100 at around 30,480 points, climbing 2.8 percent.
These gains were partly fueled by easing concerns on Wall Street, primarily due to a drop in the oil price, which had recently stoked worries about another cycle of interest rate hikes. Positive sentiment was also driven by reports suggesting that exports from Saudi Arabia had somewhat recovered in September, and news that the country’s vital East-West pipeline-previously damaged by attacks-was scheduled for repair soon.
Separately, the common European currency weakened on Monday evening. The euro traded at 1.1466 US dollars, meaning the dollar was equivalent to 0.8721 euros.
In the commodity markets, the gold price declined, trading at $4,345 per fine ounce by evening (-0.8 percent), which translates to a price of 121.84 euros per gram. Simultaneously, the oil price fell sharply. A barrel of Brent crude from the North Sea cost approximately $100.10 around 10 PM German time on Monday, representing a reduction of 375 cents, or 3.6 percent, from the previous day’s closing price.
