The start of the week saw gains across the US stock exchanges. At the close in New York, the Dow was calculated at 48,218 points, marking a 0.6 percent increase compared to the previous trading day. Moments earlier, the broader S&P 500 showed a 1.0 percent gain with approximately 6,885 points, while the technology-focused Nasdaq 100 reached about 25,385 points, up 1.1 percent. Despite initial dips at the market’s opening, Wall Street was able to recover those losses and climb into positive territory. Initially, the blockading of the Strait of Hormuz by the US caused some uncertainty; however, more optimistic investors seemed to look for opportunities to take advantage of the situation.
In the currency markets, the European common currency was stronger on Monday evening, with one Euro priced at $1.1762, and consequently, one dollar fetching 0.8502 Euros. Gold prices were weaker, reaching $4,743 per fine ounce by the evening, a decline of 0.1 percent, which translates to €129.67 per gram. Oil prices rose notably; at around 10 PM German time on Monday, a barrel of Brent crude from the North Sea cost $98.30, representing a 4.3 percent increase-or 404 cents-from the close of the previous trading day.