Stocks edged higher Monday despite rising oil prices after President Trump rejected Iran's latest peace proposal. The S&P 500 closed above the psychologically significant 7,400 level for the first time ever, while the Nasdaq also notched a record close and the Dow finished firmly higher. Semiconductors remained a bright spot, led by Micron Technology (MU), which surged 6.5%.
Oil Prices Continue to Climb
Oil prices surged Monday after President Trump rejected Iran's counterproposal to end the conflict, calling it "totally unacceptable," warning it could further destabilize the already fragile ceasefire agreement. June-dated West Texas Intermediate (WTI) settled 2.8% higher at $98.07 per barrel.
Gold prices were muted today as investors digested U.S.-Iran updates. June-dated gold futures fell 0.04% to $4,718.70 per ounce. Meanwhile, silver futures surged to a two-month high.
Comments
Log in or sign up to join the conversation.