Dow closes up 262 points as oil plunges; Big Tech earnings and Fed meeting in focus

MacroCommodity Impact 4

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Summary · why it matters

US stocks closed higher on Monday, with the Dow Jones Industrial Average gaining 262.83 points to end at 52,210.08, after West Texas Intermediate crude fell 7.5% and Brent dropped 8.7% on a temporary halt to hostilities between the US and Iran, easing inflation concerns. Investors are eyeing earnings reports from major technology companies including Amazon, Meta Platforms, Microsoft, and Apple, as well as the Federal Reserve's policy meeting this week. Meanwhile, South Korea's stock market tumbled more than 8%, with the KOSPI index plunging amid a weak open across Asian markets.