Wall Street opens higher as AI stocks steady and oil prices fall
US stocks opened higher on Monday as technology and AI-related shares steadied after a weak October. Crude oil prices dropped sharply amid growing hopes of a US-Iran peace deal, lifting risk sentiment. The Dow rose 0.78 per cent, the S&P 500 gained 0.45 per cent, and the Nasdaq Composite increased 0
Wall Street's main indexes opened higher on Monday, with technology and artificial-intelligence related stocks steadying after a dismal October, according to Reuters. Risk sentiment received a lift as crude oil prices dropped sharply amid growing hopes of a US-Iran peace deal.
The Dow Jones Industrial Average rose 403.09 points, or 0.78 per cent, at the open to 52,173.40. The S&P 500 rose 33.80 points, or 0.45 per cent, to 7,613.87. The Nasdaq Composite rose 159.07 points, or 0.63 per cent, to 25,596.07 at the opening bell.
The gains come after a difficult October for technology and AI-related shares, which have been a key driver of market performance in recent months. The drop in crude oil prices was attributed to growing expectations of a peace deal between the United States and Iran, which helped improve investor sentiment.
Market observers noted that the stabilisation of AI stocks and the decline in oil prices provided a positive start to the trading week. The moves were seen as a reversal from the previous month's trends, which had weighed on investor confidence.