Dow Jones hits new record! Major tech stocks surge as oil prices fall; investors watch for US economic data.

U.S. stock markets rallied on Monday (August 3, 2569) after oil prices fell due to easing tensions in the Middle East, prompting investors to buy back into large-cap technology stocks and pushing the Dow Jones index to close at a new record high. The market is also watching for corporate earnings reports and U.S. economic data to be released this week.

US stock markets surged, with the Dow Jones closing at a new high and tech stocks leading the market.

U.S. stock markets closed strongly higher on Monday (August 3, 2569), with the Dow Jones closing at a new record high, driven by a drop in oil prices and strong buying in major technology stocks. Leading the gains was Amazon, which surpassed $3 trillion in market capitalization for the first time, along with gains in Nvidia, Meta Platforms, Alphabet, and Microsoft.

Investors were also boosted by positive U.S. manufacturing and services data, as well as corporate earnings reports that bolstered confidence. Meanwhile, the market is watching the earnings reports of Caterpillar, McDonald's, and AMD, along with U.S. factory orders and international trade data.

• • Dow Jones Industrial Average Closed at 53,178.41 points, up 693.38 points (+1.32%)
  • S&P 500 Index Closed at 7,600.50 points, up 110.78 points (+1.48%)
  • Nasdaq Composite Index Closed at 25,913.896 points, up 540.042 points (+2.13%)

European stock markets closed higher, driven by buying across the region.

European stock markets closed higher , boosted by a positive investment sentiment mirroring that of the US stock market. Concerns about the Middle East eased after President Donald Trump suspended a planned attack on Iran, leading investors to buy shares across several industry sectors.

Investors are also monitoring the direction of the global economy and the earnings of listed companies, while the market awaits key economic data from the United States to assess the outlook for the Federal Reserve's (Fed) monetary policy.

• • STOXX 600 Index Closed at 652.09 points, up 2.90 points (+0.45%)
  • DAX German stock market index Closed at 26,001.31 points, up 372.07 points (+1.45%)
  • CAC 40 Index of the French stock market Closed at 8,613.82 points, up 104.18 points (+1.22%)

The UK stock market edged slightly lower as investors took profits.

The London stock market closed slightly lower on Monday, defying European markets, despite improved global investment sentiment driven by lower oil prices and easing geopolitical concerns.

Investors continue to assess the impact of global economic trends, and are awaiting economic data and corporate earnings reports this week.

• • FTSE 100 Index UK Stock Market Closed at 10,857.70 points, down 10.35 points (-0.10%)

Oil prices fell more than 4% after Trump canceled plans to attack Iran.

Global oil prices plummeted after President Donald Trump announced the cancellation of his plan to attack Iran, following a request from Iran and several Middle Eastern countries. He stated that both sides were discussing solutions, including reopening the Strait of Hormuz and ending the nuclear threat.

Although Iran denies having negotiated with the United States, the market perceives a reduced risk to oil supply, leading to a sharp drop in oil prices.

• • WTI crude oil price (September delivery) It closed at $80.34 per barrel, down approximately 5.1%.
  • Brent crude oil price (October delivery) Closed at $83.77/barrel, down 4.7%.

Gold prices softened as investors awaited US inflation and employment data.

Gold prices edged slightly lower as investors assessed uncertainty in the Middle East, inflation risks, and monitored U.S. labor market data, which could impact the Federal Reserve's monetary policy.

Analysts believe gold prices will continue to trade within the range of $4,000-$4,200 per ounce, driven by concerns that inflation may accelerate again. Meanwhile, high energy prices may force the Fed to keep interest rates high for longer than expected.

• • Spot Gold Price Closed at $4,029.84/ounce, down 0.3%.
  • COMEX gold price (August delivery) Closed at $4,029.00/ounce, down 0.5%.

The dollar remained stable, the yen continued to strengthen, and attention is focused on US employment data.

The dollar remained stable while the yen strengthened for a third consecutive day after Japan and the United States intervened in their exchange rate markets last week to support the yen. Investors are still watching for the possibility of further intervention.

The market is also awaiting U.S. employment data this week, which will be a key factor in the Federal Reserve's interest rate decision in September.

• • Dollar Index Closed at 99.82, unchanged from the previous day.
  • Euro/Dollar It closed at $1.1523, up 0.01%.
  • Dollar/Yen Closed at 156.76 yen, down 0.39% (yen strengthened).
  • Euro/Yen Closed at 180.70 yen, down 0.40%.

References: CNBC , Reuters

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