S&P 500 Hits 7,760 as Brent Crude Drops Below $100
US equity indices surged Monday, with the Nasdaq gaining 2.13% as diplomatic signals eased oil price pressures.
Key points
- S&P 500 rose 1.44% to 7,760.29 as Brent crude fell below $100 per barrel.
- Saudi Aramco increased daily Gulf loadings to 3.7 million barrels after pipeline disruptions.
- Hormuz oil flows averaged 4.9 million barrels per day in Q2 2026, down from 21.6 million.
The S&P 500 closed at 7,760.29 after rising 1.44% on Monday. This gain followed Brent crude falling below the $100 per barrel threshold.
Investors shifted back into technology stocks as the US 10-year Treasury yield dropped below 5%. The Nasdaq Composite climbed 2.13% to 27,086.06.
Diplomatic signals ease energy supply fears
President Trump expressed openness to meeting Iranian President Pezeshkian in New York. This potential dialogue reduced immediate concerns about prolonged conflict.
Saudi Aramco loaded 14 million barrels onto seven tankers on Sunday. Daily Gulf loadings rose to 3.7 million barrels from 2.9 million earlier in the month.
Hormuz flows remain far below norms
EIA data show Hormuz flows averaged only 4.9 million barrels per day in Q2 2026. This is a sharp decline from 21.6 million barrels per day in Q4 2025.
Crude and condensate flows through the strait dropped to 3.7 million barrels per day. This figure is less than a quarter of the previous quarterly average.
Chipmakers lead the broad market rally
Advanced Micro Devices reached a $1 trillion market capitalization on Monday. Intel and Arm Holdings both gained more than 12% during the session.
The Philadelphia Semiconductor Index rose 3.7% as corporate spending on AI remained strong. This sector outperformed the broader market significantly.
Reuters reported that Iran conveyed conditions to mediators for re-engaging in negotiations. Both sides continued to exchange threats despite the diplomatic opening.
