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The Dow Jones Industrial Average reached a record high on Monday following a broad rally in the United States stock market. The S&P 500 also saw significant gains, rising 1.5% and closing within 0.1% of its own peak.

The market surge was driven by a decline in oil prices, which followed reports of easing tensions in the conflict between the United States and Iran. This shift in geopolitical sentiment provided the primary catalyst for the day's positive financial performance.