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As on : 04-Aug-2026

Market Commentary - Foreign Markets
04-Aug-2026 14:50

Strong Economic cues buoy Wall Street stocks

US stocks had a strong day on Monday, supported by positive economic signals and falling oil prices. The Dow Jones Industrial Average rose 1.3 percent to a record 53,178.41. The S&P 500 increased by 1.5 percent, finishing just below its record of 7,620.90 from June 2. The Nasdaq Composite gained 2.1 percent, closing at 25,913.90. Major technology firms drove this rise, with Meta Platforms up 6 percent and Microsoft, Amazon, and Alphabet gaining between 4.4 percent and 4.9 percent. Brent crude prices dropped about 5 percent after President Donald Trump mentioned ongoing talks with Iran. The ISM reported that the US manufacturing sector grew in July, with a PMI of 55.6%, marking seven months of growth. The Employment Index rose to 52.8%, and the Production Index increased to 58.5%. The New Order Index was at 56.7%.

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