Tech Surge Lifts US Markets as Investors React to Easing Geopolitical Tensions
Economy / Finance

Tech Surge Lifts US Markets as Investors React to Easing Geopolitical Tensions

US stock exchanges registered mixed results on Monday. The Dow Jones Industrial Average concluded trading in New York at 50,786 points, marking a slight decline of 0.2% compared to the prior day. However, minutes earlier, the broader S&P 500 showed gains of 0.3% with approximately 7,405 points. Meanwhile, the technology-focused Nasdaq 100 was up 1.6% at the time, reaching about 29,415 points.

The Wall Street boost was likely fueled by the seeming conclusion of the escalation between Israel and Iran. Additionally, several tech stocks recovered after significant drops at the close of the previous trading week, with shares in companies such as Cisco and Nvidia notably rising.

In terms of currencies, the European common currency strengthened slightly on Monday evening, with the Euro trading at $1.1532. Conversely, the dollar was priced at €0.8672.

The gold price remained largely stable. By evening trading, a fine ounce was valued at $4,328 (unchanged), equivalent to €120.68 per gram.

Oil prices, however, surged. Around 10 PM German time, a barrel of North Sea Brent crude oil cost $94.32, representing a 1.3% increase over the official closing prices of the previous day.