The US stock market rose on Monday, continuing the upward trend that has driven major stock indices significantly higher in the past week.
The S&P 500 index rose 0.2%, while the Dow Jones index rose 35 points, or 0.1%. The Nasdaq Composite Index, which is dominated by technology stocks, rose 0.3%, marking its seventh consecutive day of gains and setting a record for the longest consecutive rise since January this year.
The yield of the US 10-year treasury bond bond rose to 4.662% from 4.557% on Friday. After hitting 5% for the first time in 16 years, the yield has significantly declined in the past week.
The increase in information technology stocks in the S&P 500 index helped offset the decline in energy stocks such as Marathon Oil and Schlumberger. Companies such as Disney and Roblox will release financial reports later this week.
Brent crude oil futures closed at $85.18 per barrel, 0.3% higher than last Friday's closing price. Oil prices fell nearly 5% last week, partly because the war between Israel and Hamas did not escalate into a broader conflict.