Stock market today: Wall Street rises, and oil and gold fall as some of last week's moves unwind
U.S. stocks rallied as some of last week’s moves driven by worries about war in the Middle East unwound NEW YORK -- U.S. stocks rallied Monday as some of last week’s moves in financial markets driven by worries about war in the Middle East unwound. The S & P 500 rose 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. The Dow Jones Industrial Average gained 314 points, or 0.9%, and the Nasdaq composite jumped 1.2%. Treasury yields also climbed after falling last week on worries that fighting in Gaza will escalate. Oil prices dropped after a shaky week spurred by worries about disruptions to supplies from Iran because of the war. And the price of gold slipped as last week’s flight toward safer investments waned. Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to reassert themselves and eventually move with corporate profits, economic growth and other long-term fundamentals, according to Mark Hackett, chie...