Wall Street extends rally, Dow Jones hits new record high

NEW YORK, New York — U.S. stocks posted modest gains Monday despite high geopolitical uncertainty as the Middle East veers toward regional war. Israel launched a major preemptive strike on Lebanon on Monday that killed 356 people and wounded more than 1,200, the Lebanese health ministry confirmed.

Tel Aviv stock markets rose on the news, joining gains in the US, Europe and the US.

The Dow Jones Industrial Average closed at a new record high on Monday, while the U.S. dollar also rose slightly. Investors were encouraged last week when the Federal Reserve bumped up official interest rates by 50 basis points. The most important economic date this week will be weekly jobless claims, which will be announced on Thursday, which one expert said may not be encouraging.

“Investors have been assuming that weakness in labor markets was driving Fed policy and have placed a lot of emphasis on the relatively small change in nonfarm payrolls, but that assumption may be wrong,” Karl Schamotta, chief market strategist at Corpay, said in a note Monday. “And if so, the volatility roadmap could be redrawn.”

This Standard and Poor’s 500 closed at 5718.57, up 16.02 points, or 0.28 percent. The index continued its upward trend, with technology and healthcare shares leading the gains, while overall market sentiment remained positive amid concerns about easing inflation.

This Dow Jones Industrial Average also hit a new all-time high, closing at 42,124.65, up 61.29 points, or 0.15 percent. Industrials and financials helped drive the index, although gains were tempered by weaker performance in energy shares.

Meanwhile, NASDAQ Composite ended the day at 17,974.27, up 25.95 points or 0.14 percent. The tech index benefited from gains in major technology companies, although it faced some pressure from profit-taking in semiconductor stocks.

FX Market Update: Mixed Results Across Major Currency Pairs

The currency market saw a mix of gains and losses on Monday as various global currencies fluctuated against the U.S. dollar. Here’s a look at the latest global currency market performance:

This Euro weakened in relation to US dollarWith EUR/USD The currency pair fell 0.38 percent to 1.1117. That marked a continuation of a downtrend for the euro, which has been struggling with selling pressure amid global economic and geopolitical uncertainty.

This US dollar lost ground Japanese YenWith USD/JPY The currency pair fell 0.27 percent to 143.46. The dollar’s decline came as investors flocked to the yen, treating it as a safe-haven asset.

Against Canadian dollarthis US dollar fell by 0.46 percent, with USD/CAD the pair retreats to 1.3503.

This British Pound made profits compared to US dollarWith GBP/USD the pair rose 0.22 percent to 1.3346.

This US dollar also weakened in relation to Swiss francWith USD/CHF The pair fell 0.31 percent to settle at 0.8466. The franc, known for its stability, benefited from its safe-haven status amid global market volatility.

This Australian Dollar showed strength against US dollarWith AUD/USD The pair gained 0.62 percent to 0.6846.

Similarly, New Zealand Dollar reinforced against US dollarWith NZD/USD The pair rose 0.66 percent to end the day at 0.6275.

Due to the weighting of the euro, US Dollar Index recorded a slight increase of 0.14 points, or 0.14 percent, to 100.87.

Monday’s Global Stock Market Brief: Indices Show Mixed Results

Monday’s closing stock market performance showed a mix of gains and losses across global indices, with UK and European markets posting moderate gains, while Asian indices posted more mixed results.

CANADA

In Canada S&P/TSX Composite Index rose a modest 27.34 points, or 0.11 percent, to close at 23,894.71. The energy and materials sectors, key components of the Canadian economy, showed resilience despite the volatility in commodity prices.

UNITED KINGDOM

This FTSE100 On Monday in London, the stock closed higher at 8259.71, up 29.72 points or 0.36 percent.

EUROPE

Germany DAX PERFORMANCE INDEX also posted significant gains, closing at 18,846.79, up 126.78 points or 0.68 per cent. CAC40 rose 7.82 points to close at 7508.08, up a small 0.10 percent.

In wider European markets ESTX 50 PR.EUR the index rose by 14.03 points, or 0.29 percent, to close at 4,885.57. Similarly, Euronext 100 Index rose by 2.68 points, or 0.18 percent, to 1,476.59. BEAM 20 in Belgium rose by 17.02 points and closed at 4232.61, which means an increase of 0.40 percent.

ASIA

Asian markets saw mixed results.

Among the most important indexes in the region was the Chinese SSE Composite Index gained 12.10 points, which means an increase of 0.44 percent, and closed at 2748.92.

In Japan Nikkei 225 recorded a particularly strong result, closing at 37,723.91, which means an increase of 568.61 points and 1.53 percent.

Hong Kong Hang Seng Index However, it fell 11.46 points, or a loss of 0.06 per cent, to end at 18,247.11.

Meanwhile, STI Index in Singapore gained 13.78 points, or 0.38 percent, to close at 3,638.54.

India S&P BSE SENSEX showed strength, rising 384.30 points, or 0.45 percent, to close at 84,928.61.

In Malaysia Malaysian Stock Exchange KLCI fell slightly, losing 3.52 points, or 0.21 percent, to close at 1,665.30.

South Korea KOSPI Composite Index showed moderate gains, gaining 8.64 points or 0.33 percent to close at 2,602.01, while in Taiwan TSEC Weighted Index rose by 126.11 points, or 0.57 per cent, to 22,285.53.

OCEAN

Sellers dominated the Oceania stock exchanges.

Australian stock markets fell, S&P/ASX200 losing 56.60 points, or 0.69 percent, to close at 8,152.90.

Australian ALL THE ORDINARY The index also fell to close at 8,384.20, down 53.00 points and down 0.63 percent.

In New Zealand S&P/NZX 50 Index fell 74.33 points, down 0.60 percent, to end the day at 12,404.17.

MIDDLE EAST

In the Middle East TA-125 Israel’s index surprisingly posted modest gains despite a significant escalation in the country’s military’s actions against Lebanon on Monday. The index gained 12.02 points, or 0.60 percent, to close at 2017.65.

Egypt EGX 30 Price Return Index fell by 15.90 points, or 0.05 percent, to close at 31,022.50.

AFRICA

In Africa Top 40 USD Net TRI Index in Johannesburg posted a strong performance, rising 113.86 points, or 2.45 percent, to close at 4,769.07.