Stocks rally as oil prices fall and tech shares climb

U.S. stocks opened August with a broad rally Monday as investors reacted to easing Middle East tensions, lower oil prices and continued strength in technology shares.

The Dow Jones Industrial Average rose more than 600 points, while the S&P 500, Nasdaq Composite and Russell 2000 each gained more than 1%. The Nasdaq led the major indexes as investors kept buying large technology companies tied to artificial intelligence and cloud computing.

Lower crude oil prices eased concerns that inflation could accelerate again later this year. The drop helped transportation, consumer discretionary and financial shares, while reducing expectations for near-term profits among oil producers.

Missouri-based public companies posted mixed results, though financials, industrials and utilities generally joined the broader advance.

Read the full story at stl.news.