US Stocks Rise as Tech Gains Offset Commodity Tumbles

US Stocks Rise as Tech Gains Offset Commodity Tumbles

U.S. stock markets gained on Monday. At the close in New York, the Dow Jones Industrial Average settled at 49,407 points, up 1.1 percent from the previous session.

Just minutes earlier, the broader S&P 500 was trading near 6,975 points, up 0.5 percent, while the technology‑heavy Nasdaq 100 hovered around 25,740 points, rising 0.7 percent.

The rally was largely driven by technology stocks, with chip companies especially attracting buying interest. In contrast, shares of Disney fell into the red. Although the entertainment giant exceeded earnings expectations, it warned of fewer international visitors to its theme parks and lower profits in its TV and film divisions.

On the currency front, the euro was weaker in the evening. One euro bought 1.1791 U.S. dollars, and one dollar was worth 0.8481 euros.

Gold moved sharply lower, trading at $4,649 per troy ounce-a 5 percent drop-equivalent to €126.78 per gram.

Oil prices also declined; Brent crude fell to $66.31 per barrel, down 30.1 cents, or 4.3 percent, from the close of the previous trading day.