The Globe and Mail reports in its Tuesday, Aug. 4, edition that the United States stock market neared its all-time high on Monday, fueled by easing oil prices that alleviated inflation concerns. The Globe's unbylined item reports that the S&P 500 rose 1.5 per cent, just 0.1 per cent shy of its summer record. The Dow Jones Industrial Average jumped 693 points (1.3 per cent) to an all-time high, while the Nasdaq composite increased by 2.1 per cent. Stocks got a lift as the price for a barrel of Brent crude sank 4.7 per cent to $83.77 (all figures U.S.). It dropped after President Donald Trump said over the weekend that he decided to hold off on new strikes against Iran Brent's price fluctuated between $72 and $102 last month due to concerns over when the Iran conflict would allow oil tankers to operate freely in the Persian Gulf. Recent comments by Mr. Trump eased fears about global crude supply, resulting in a drop in Treasury yields. The yield on the 10-year Treasury sank to 4.68 percent from 4.75 per cent late Friday. It, though, remains well above its 3.97-per-cent level from before the war with Iran. Monday's ease in oil prices helped airlines and other companies with big fuel bills lead the market.