US stock indices rose on Monday, lifted by strong demand after last week’s sell-off.
The Federal Reserve decided last week to keep the interest rate near zero and forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.
The US Treasury yield for 2023 fell below 2% today for the first time since last February, and the the 10-year bond hit a 4-month low.
To the oil market, WTI crude July futures rose 2.8% or $2.02, and closed at the highest level since October 2018 at $73.66 a barrel, after hitting a high of $73.9 and a low of $71.1.
Brent August futures rose 1.9% or $1.39, and closed at $74.90 a barrel, after hitting a high of $74.9 and a low of $72.9.
As for stocks, Dow Jones rose 1.8% or 587 points, and closed at 33,876, with a day high of 34,908, and a low of 33,312.
Nasdaq rose 0.8% or 111 points to 14,141, with a high of 14,150 and a low of 13,960.
S&P 500 rose 1.4% or 58 points to 4,224, after hitting a high of 4,226 and a low of 4,173.
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