[UPI]
[UPI]

US stocks closed broadly higher Monday as easing geopolitical tensions in the Middle East and a surge in large-cap technology shares lifted all three major indexes.

The Dow Jones Industrial Average rose 693.38 points, or 1.32 percent, to close at 53,178.41 on the New York Stock Exchange.

The S&P 500 gained 110.78 points, or 1.48 percent, to finish at 7,600.50, while the tech-heavy Nasdaq Composite climbed 540.04 points, or 2.13 percent, to end at 25,913.90.

The rally was driven largely by President Donald Trump's decision to call off a planned military strike against Iran, which eased fears of a broader armed conflict in the Middle East and restored investor confidence. With geopolitical risk receding, investors turned back toward risk assets.

AI-related technology stocks led the advance, pushing Nasdaq to the biggest gain among the major indexes. Buying flowed into flagship AI names including Nvidia, Meta, Microsoft and Broadcom, lifting the broader tech sector.

Market participants said risk appetite could persist for now if the situation in the Middle East does not deteriorate further. However, the course of US-Iran negotiations and any additional moves by the Trump administration are seen as the key variables that will determine market volatility going forward.


sjy@heraldcorp.com