Dow surges 700 points in broad rally as oil prices slide: Live updates

The Dow Jones Industrial Average surged 710 points, or 1.3%, in Monday's trading, as President Donald Trump called off planned strikes against Iran and oil prices fell. The S&P 500 gained 0.9% and the Nasdaq Composite advanced 1.2%. Meta saw a more than 6% increase on the day. The drop in oil prices, with Brent crude futures losing nearly 6% and West Texas Intermediate futures falling more than 7%, contributed to the broad rally.

However, investors remain cautious as the conflict with Iran has not yet reached a resolution, and labor market data for July, including non-farm payrolls and unemployment figures, will be released later in the week.

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