S&P 500 Nears Record as Oil and Yields Retreat
Wall Street closed higher Monday as the Nasdaq hit a record high and the S&P 500 recovered the 7,700 level, driven by a surge in AI stocks like AMD and Meta. The rally was fueled by falling oil prices and easing Treasury yields, with diplomatic hopes for de-escalation in the Middle East reducing geopolitical risks.
sbs.co.kr reports that AMD crossed the $1 trillion market cap mark for the first time, surging nearly 10% on AI infrastructure demand, while Meta climbed over 11% following the viral success of its new AI agent. The outlet also notes that all three major indices closed higher, with the Nasdaq setting a new all-time high.
Source: sbs.co.krWall Street rallied on Monday with the S&P 500 up 1.5% as Brent crude fell 3.4% and 10-year Treasury yields eased below 5%.
Source: CommBank
