US stocks near record high, oil falls as Trump claims Iran talks under way
Summary
US stock markets rose sharply on Monday, bringing key indexes close to record highs, while oil prices dropped about 5 percent before slightly recovering. This market activity happened amid mixed reports about whether talks between the US and Iran were taking place.Key Facts
- The S&P 500 index rose 1.5%, nearly reaching its all-time closing high of 7,620.90.
- The Dow Jones Industrial Average hit a new record high of 53,178.41, rising 1.3%.
- The Nasdaq Composite increased 2.1%, still below its peak set on June 2.
- Major technology companies mostly saw strong gains, with Meta up 6%, Microsoft, Amazon, and Alphabet rising between 4.4% and 4.9%.
- Brent crude oil prices fell about 5% on Monday before rebounding slightly during Asian trading.
- Asian stock markets declined on Tuesday morning after early gains.
- President Donald Trump said talks with Iran were ongoing and he wanted to give Iran a last chance to make a deal.
- Iran denied having any talks with the US and said its officials were only negotiating with Oman about shipping through the Strait of Hormuz.
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