For the first time since last summer, all three major U.S. stock market indexes closed at record highs Monday. The Dow Jones Industrial Average rose 0.47 percent, the Nasdaq Composite Index jumped 0.89 percent, and the S&P 500 Index advanced 0.75 percent, all surpassing previous intraday and closing records.
The surge followed a rise in oil prices as OPEC appeared to near a deal to lower production. "I don't know if it will happen, but the market certainly hopes that it will," Robert Pavlik, chief market strategist at Boston Private Wealth, told CNBC about the pending deal. The markets also saw a jump in technology, led by Facebook.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
5 hilariously cold cartoons about the Alaska summitCartoons Artists take on the Alaskan totem pole, a peace flag, and more
-
Journalists killed in Gaza: a chilling assaultIn the Spotlight Anas al-Sharif and three of his Al Jazeera colleagues were targeted by the IDF
-
Crossword: August 16, 2025The Week's daily crossword puzzle
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
