Wall Street Rallies Near Record as Oil, Yields Ease

U.S. stocks moved close to record highs as falling oil prices and easing Treasury yields reduced pressure on markets after last week’s surge. On Monday, the S&P 500 rose 1.5%, the Nasdaq gained 2.3% to a record close, and the Dow added 0.7%, with chipmakers and other artificial-intelligence stocks leading the advance; on Tuesday, the S&P 500 remained within 0.2% of its record. Brent crude fell from nearly $110 per barrel last week to below $100, though prices remained well above prewar levels amid uncertainty over Middle East supply disruptions linked to the war with Iran and limited shipping through the Strait of Hormuz. The 10-year Treasury yield eased below 5%, helping stocks, while analysts warned that renewed increases in oil, gasoline and refined-product prices could threaten the market’s rally. Companies with substantial fuel costs, including airlines and cruise operators, benefited from the pullback in oil prices.