Finance

The Dow Jones Industrial Average rose by 0.35% to close at 51,848.90, marking its second-highest finish in history. The blue-chip index benefited from its lower exposure to volatile semiconductor shares and was supported by sector gains in healthcare and industrials, as well as anticipation of Alphabet joining the index next week.

Global energy prices saw a significant downturn, with Brent crude dropping over 3.8% to reach levels seen prior to the conflict with Iran. This decline helped reduce inflation fears and contributed to a retreat in Treasury yields, providing a needed lift to travel-sensitive stocks such as airlines and online booking platforms.

U.S. Treasury yields eased as investors awaited Thursday's Personal Consumption Expenditures (PCE) report, which is expected to show the highest price rise in three years at 4.1%. The 10-year yield fell to 4.40% as cooling oil prices slightly lowered the immediate odds of aggressive interest rate hikes from the Federal Reserve later this year.