US stocks traded near record levels on Monday despite a fresh rise in oil prices following renewed tensions around the fragile US-Iran ceasefire, as gains in technology heavyweights led by Nvidia helped keep investor sentiment resilient.The S&P 500 was little changed from the all-time high it set on Friday. The Dow Jones Industrial Average slipped 130 points, or 0.3 per cent, while the Nasdaq Composite was flat in early trade. Both indexes were also coming off record highs, AP reported.Oil prices moved higher after the latest fighting threatened the ceasefire between the United States and Iran. Brent crude, the global benchmark, rose 5 per cent to $95.69 a barrel, well above the roughly $70 level seen before the conflict began.The rise in crude prices weighed on companies with significant fuel costs. United Airlines fell 2.7 per cent, while Royal Caribbean Group declined 1.6 per cent.However, investors appeared to remain hopeful that Washington and Tehran could eventually reach an agreement to reopen the Strait of Hormuz and restore normal oil shipments from the Persian Gulf.Corporate earnings continued to provide support to the broader market.Science Applications International Corp. (SAIC) surged 12.3 per cent after reporting quarterly profit that exceeded analysts’ expectations and raising its financial outlook following new contracts from the US Department of Homeland Security, the army and other agencies.Nvidia emerged as the biggest contributor to market gains, climbing 3.8 per cent after chief executive Jensen Huang unveiled a series of updates at a conference.Among the announcements, Huang said Nvidia’s next-generation artificial intelligence platform, Vera Rubin, is moving into full production. Analysts said the update helped ease concerns about potential delays in the company’s AI roadmap.Nvidia’s performance carries significant influence because it is the most valuable company in the US stock market, giving its share price movements substantial weight in the S&P 500.The growing dominance of a handful of technology giants is also reshaping market dynamics. According to Thomas Carroll, equity market strategist at Stifel, the top 10 stocks now account for nearly half of the S&P 500’s total market value, the highest concentration in four decades.While the trend has benefited investors during the AI-driven rally, Carroll warned that a broader market rotation could weigh on the index if Big Tech stocks lose leadership.Elsewhere, Berkshire Hathaway slipped 0.5 per cent after announcing the acquisition of Taylor Morrison Home for $6.8 billion, one of the first major deals under Greg Abel’s leadership following Warren Buffett’s departure from the top role.Shares of Taylor Morrison Home jumped 22.4 per cent.IBM gained 5.9 per cent after analysts raised their price targets for the stock. The company had already rallied 12 per cent on Friday following the announcement of a $1 billion government grant to support construction of a quantum chip foundry.In the bond market, Treasury yields edged higher alongside oil prices. The yield on the benchmark 10-year Treasury rose to 4.50 per cent from 4.45 per cent on Friday.High bond yields have remained a concern for investors as they increase borrowing costs, push up mortgage rates and could potentially slow investment in AI infrastructure projects that have been a key driver of US economic growth.European markets traded lower, while Asian equities ended mostly higher. Japan’s Nikkei 225 gained 0.9 per cent, and South Korea’s Kospi jumped 3.7 per cent to a record high, supported by technology stocks and optimism around AI-related growth.