US stock market today: Nasdaq jumps 1%; Dow surges over 300 points
Nasdaq composite jumped 1.04% or 201.23 points to 19,608.06.
The S&P 500 climbed 0.87% or 51.80 points, reaching 6,028.77 in early trading, recovering some ground after last week's drop.
The Dow Jones Industrial Average, also followed a similar suit, soaring to 42,564.12, gaining 0.87% or 366.33 points at 7:20 pm IST.
US stocks rose in early trade, and oil prices pulled back from Friday's sharp spike, helping calm global market nerves after a volatile end to last week.
The moves come after Israel launched strikes on Iranian nuclear and military sites late last week, prompting a surge of over 7% in oil prices on Friday.
Iran, a key oil producer under Western sanctions, responded with a new wave of missile attacks on Israel early Monday. Despite the continued hostilities, markets were cautiously optimistic that the conflict might not spill over further, allowing oil prices to stabilise.
US benchmark crude slipped 73 cents to $72.25 per barrel, while Brent crude, the global benchmark, also dropped 73 cents to trade at $73.50. Both remain at their highest levels this year, underscoring ongoing concerns over supply disruption if tensions worsen.
Last week's turmoil weighed heavily on sectors sensitive to fuel costs and consumer confidence. Carnival shares tumbled 4.9%, United Airlines lost 4.4%, and Norwegian Cruise Line Holdings fell 5% on Friday. These losses were among the steepest as fears over high oil prices and dampened travel demand rattled sentiment.
Gold also found favour among nervous investors, with the precious metal rising 1.4% on Friday and holding steady on Monday.
Treasury bond prices, however, fell, pushing yields higher—driven partly by fears that oil-driven inflation could gather pace.
Although inflation has recently hovered near the Federal Reserve's 2% target, some traders remain wary. A potential inflation spike, they believe, could be fuelled not only by oil prices but also by tariffs introduced under President Donald Trump.
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