U.S. stocks surged to record closing highs on Monday, propelled by claims from President Donald Trump that negotiations with Iran are underway and strong corporate earnings. The Dow Jones Industrial Average jumped 693 points to finish at 53,178.41, while the S&P 500 rose 1.48% and the Nasdaq climbed 2.13%.
Tech giants led the rally, with Amazon surpassing the symbolic $3 trillion market capitalization threshold for the first time. Microsoft gained 4.93%, Alphabet rose 4.44%, and Meta advanced 6.02%. Boeing surged 8.03% after receiving regulatory approval for its 737 MAX 7 aircraft.
Palantir Technologies reported second-quarter earnings that beat expectations, with revenue of $1.94 billion, up 93% year-over-year. However, Iran denied engaging in negotiations with the United States, contradicting Trump's statements. Brent crude oil fell 4.73% amid the geopolitical uncertainty.