Dow surges to record close after a fresh tech rally and a plunge in oil prices
Dow surges to record close after a fresh tech rally and a plunge in oil prices
Jennifer Sor Tue, August 4, 2026 at 1:56 AM UTC
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The Dow closed at a record high to kick off August as tech rallied and oil prices tumbled.
President Donald Trump called off an attack on Iran, sending crude prices lower.
Investors piled into beaten-down tech stocks, leading the Nasdaq 100 to rise nearly 2%.
The Dow closed at a record on Monday, with stocks rallying and crude prices tumbling to start the month.
Major indexes were sharply higher after President Donald Trump said he called off an attack on Iran and that peace talks were set to resume. The rally picked up steam as oil prices tumbled, with the Dow surging nearly 700 points to an all-time closing high.
Brent crude, the international benchmark, fell about 5% to $83.75 a barrel. US oil prices were down 5% to $80 a barrel.
The S&P 500 ended the day within striking distance of its own record high. Treasury yields also eased, relieving some pressure after a big surge following the Fed meeting last week. The 10-year Treasury bond yield fell 5 basis points to 4.68%.
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Here's where US indexes stood at 4:00 PM ET on Monday:
S&P 500: 7,600.50, up 1.48%
Dow Jones Industrial Average: 53,178.41, up 1.32% (+693.38 points)
Nasdaq 100: 28,776.80, up 1.78%
The Nasdaq 100 rose more than 2% as investors piled back into beaten-down tech names, particularly hyperscalers and some memory stocks that sold off heavily in recent weeks.
Here were some of the big moves:
Microsoft: +5%
SanDisk: +5%
Alphabet: +4%
Amazon: +4%
Nvidia: +2%
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Source: “AOL Money”
