Dow gains 366 pts, Nasdaq closes at record high

US stocks closed higher on Monday, driven by gains in the technology sector amid optimism over the outlook for chip demand from AI data centers, alongside a decline in oil prices and Treasury yields.

At the close, the Dow Jones Industrial Average rose 0.71%, or 366 points, to 52,048.

The broader S&P 500 gained 1.49% to 7,764, while the Nasdaq Composite advanced 2.26% to close at a record high of 27,122.

In Europe, the STOXX Europe 600 rose 1% to 641 points, supported by gains in the technology and financial services sectors.

The UK's FTSE 100 climbed 0.75% to 10,739 points, Germany's DAX gained 1.07% to 25,575, and France's CAC 40 advanced 0.92% to 8,138.

Meanwhile, Japanese stocks were closed for public holidays today, with the Tokyo Stock Exchange remaining shut through Wednesday for Respect for the Aged Day and the Autumnal Equinox.

In oil markets, Brent crude futures for November delivery fell 3.4%, or $3.53, to $100.34 per barrel.

US NYMEX crude futures for October delivery dropped 4.5%, or $4.52, to $95.78 per barrel.

As for gold, futures for September delivery declined 0.91%, or $40.1, to $4,345.8 per ounce.

Market Drivers? Wall Street drew support from falling oil prices, which eased investor concerns about persistently elevated inflationary pressures, while AI-related optimism boosted technology stocks.