US stocks close higher as Nasdaq hits record

US stocks closed higher on Monday as investors weighed the monetary policy outlook, with signs of a cooling labor market boosting expectations that the Federal Reserve will resume cutting interest rates.

The Dow Jones Industrial Average rose by 0.25%, or 114 points, to 45,514 points.

The S&P 500 index increased by 0.21%, or 13 points, to 6,495 points, while the Nasdaq Composite climbed by 0.45%, or 98 points, to 21,798 points, marking a new record closing high.

In Europe, the STOXX Europe 600 index gained 0.52% to 552 points, supported by strong performances from Delivery Hero and ASML shares.

The UK’s FTSE 100 edged up by 0.14% to 9,221 points, Germany’s DAX added 0.89% to 23,807 points, and France’s CAC 40 rose 0.78% to 7,734 points.

In Japan, the Nikkei 225 advanced by 1.45% to 43,643 points, closing near its all-time high, while the broader TOPIX index gained 1.06%, reaching a record level of 3,138 points.

In the oil market, Brent crude futures for November delivery rose by 0.79%, or 52 cents, to $66.02 per barrel.

US West Texas Intermediate (WTI) crude futures for October delivery increased by 0.63%, or 39 cents, to $62.26 per barrel.

As for gold, gold futures for December delivery climbed by 0.66%, or $24.10, to $3,677.40 per ounce at settlement.