Stocks gain on AI optimism; lower oil helps bonds

The Nasdaq Composite reached a record closing high on Monday, propelled by gains in AI-focused companies like Advanced Micro Devices, Intel, and Arm Holdings. The S&P 500 and Dow Jones Industrial Average also climbed, supported by strong earnings growth. Investors remain optimistic despite expectations of further global rate hikes, as central banks aim to tackle inflation instead of slowing economic activity.

Oil prices declined due to threats between Iran and the U.S., and the attack on Saudi Arabia's capital, leading to lower yields for short-dated US Treasuries.