The Dow barged into the holiday-shortened week with a 203-point gain, marking its sixth daily win in seven. Microsoft (MSFT) helped fuel today’s rally, after news that former OpenAI CEO Sam Altman will lead the company’s new artificial intelligence (AI) research team. Tech stocks rallied in response, helping the Nasdaq and S&P 500 register their fifth-straight gains. Wall Street’s focus is now turning to the Federal Reserve’s meeting minutes, due out tomorrow.
OIL PRICES SETTLE HIGHER ON OPEC+ SPECULATION
Oil prices settled higher on Monday, as traders bet on the Organization of the Petroleum Exporting Countries and its allies (OPEC+) extending production cuts. December-dated West Texas Intermediate (WTI) rose $1.71, or 2.3%, to close at $77.60 a barrel on the day.Rising Treasury yields weighed on gold prices, which settled lower as waited Federal Reserve remarks. December-dated gold fell $4.60, or 0.2%, to close at $1,980.10 an ounce for the day.More By This Author:Tech, Energy Stocks Boost Broader Market Midday
S&P 500, Dow Log Longest Weekly Win Streak Since July
Stocks Still Eyeing Weekly Wins Despite Midday Slide
