S&P 500 tops 7,400 on Monday amid U.S.-Iran war as AI and oil insulation support gains

The S&P 500 closed above 7,400 on Monday for the first time, returning to record highs even as the U.S.-Iran war continues into its third month and oil prices remain elevated. The index has rebounded about 17% from around 6,300 in a little over a month, supported by limited margin exposure to energy, strong profit concentration in big tech tied to AI, and a U.S. economy that is less oil-dependent than in past crises.