Dow surges nearly 500 points as bond yields and oil prices tumble

MacroGeopoliticsCommodity Impact 4

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Summary · why it matters

The Dow Jones Industrial Average surged nearly 500 points today. As of 8:56 p.m. Thai time, the Dow was up 498.71 points, or 0.96%, to 52,445.96, buoyed by falling oil prices and U.S. Treasury yields after the United States and Iran halted hostilities over the weekend. Yields on the 10-year and 30-year U.S. Treasuries declined, while the 2-year yield fell to 4.312%. Brent crude dropped below $90 a barrel and WTI crude slipped below $84. Investors are also watching earnings from major tech companies including Amazon, Apple, Meta Platforms, and Microsoft, as well as the Federal Reserve's monetary policy meeting this week. The CME Group's FedWatch Tool indicates investors see a 66.3% probability that the Fed will hold rates at 3.50% to 3.75% at its July 28-29 meeting.