Summary · why it matters
U.S. stocks advanced on Monday, with the S&P 500 reaching a two-week high and the Dow Jones Industrial Average hitting a three-and-a-half-week high, as easing Middle East tensions sent crude oil prices tumbling more than 6 percent and allayed inflation fears. The S&P 500 rose 0.84 percent, the Dow gained 1.21 percent, and the Nasdaq 100 added 0.47 percent. New York Fed President John Williams offered dovish comments, saying interest rates remain well positioned and inflation should ease in the second half of the year. The 10-year Treasury yield fell 5 basis points to 4.68 percent, while chipmakers and AI-infrastructure stocks faced pressure from a 5 percent drop in South Korea's Kospi Index. Airline and cruise stocks rallied on lower fuel costs, with American Airlines, United Airlines, and Alaska Air up more than 5 percent, and software names like Atlassian, ServiceNow, and Microsoft also posted strong gains.