Wall Street opened August with a powerful surge Monday as investors reacted to President Donald Trump’s decision to hold off on additional military strikes against Iran.
The move immediately changed the mood across financial markets. Fears of a larger Middle East conflict had pushed energy prices higher and raised concerns about another inflationary shock. But Trump’s decision to pause further attacks and pursue diplomacy instead gave investors a reason to breathe.
By the end of the session, the Dow Jones Industrial Average had climbed 693 points, or 1.3%, to close at a record 53,178.41. The S&P 500 gained 1.5% to 7,600.50, while the Nasdaq Composite jumped 2.1% to 25,913.90.
