Wall Street maintains momentum as tech stocks lead a broad market rally, supported by retreating oil prices and anticipation surrounding the U.S.-China summit in Washington.
The Nasdaq Composite hit a record close driven by an AI stock rally.
The S&P 500 climbed 1.5% for its best single-session gain since August.
Brent crude slipped around 2% due to reports of Iran potentially reopening the Strait of Hormuz and Saudi pipeline updates.
U.S. crude fell 2.6% alongside Brent, with falling oil prices cited as a driver for equity gains.
The Dow Jones Industrial Average rose 366 points during the session.
Meta's new AI agent received an enthusiastic reception, helping power Monday's market rally.
Treasury yields retreated and geopolitical tensions involving Iran and China may influence dollar strength relative to other currencies.
The Nasdaq Composite reached a record close on Monday, fueled by an AI-driven rally and a 2.6% drop in U.S. crude prices. The S&P 500 recorded its best session since August, while investors now pivot to high-level diplomatic talks between U.S. and Chinese leadership in Washington.
Oil prices fell due to reports that Iran may reopen the Strait of Hormuz and Saudi Arabia has restored the East-West pipeline, easing supply concerns.