On Monday, August 4th, U.S. stocks opened higher and closed higher, with all three major indices rising collectively.

At the close, the Dow Jones Industrial Average rose 1.34% to 44,173.64 points; the Nasdaq Composite Index climbed 1.95% to 21,053.58 points; and the S&P 500 Index gained 1.47% to 6,329.94 points.

During early trading, U.S. President Trump posted on his social media, stating that India not only purchases large quantities of Russian oil but also sells most of it on the open market for substantial profits. Trump announced that he would significantly increase tariffs on Indian goods imported into the U.S.

In response, Indian Ministry of External Affairs spokesperson Randhir Jaiswal issued a statement: "The accusations against India are unfair. Like all major economies, India will take all necessary measures to safeguard its national interests and economic security."

Sam Stovall, Chief Investment Strategist at CFRA Research, said, "Today can be considered a market rebound day. U.S. stocks often experience sudden recoveries after declines, and that’s exactly what’s happening now."

He added that we still need to watch tomorrow’s market movements, as investors may likely see it as a time to take profits and lock in some gains.