Berkshire, Energy Stocks Send Stock Markets Toward Record Heights

The new week got off to a generally good start on Wall Street, as most major market benchmarks were higher. Investors continue to have confidence that efforts from the federal government and the Federal Reserve will be sufficient to keep the U.S. economy on a pathway to recovery. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 274 points to 34,149. The S&P 500 (SNPINDEX: ^GSPC) gained 17 points to 4,198, which is above its record closing level, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) eased lower by 12 points to 13,951.

Over the weekend, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) held its annual shareholder meeting, and investors generally liked what they heard from Warren Buffett and his team of executives. Meanwhile, the energy industry helped lead the market higher as well, as rising crude oil prices once again supported the notion of a strong economic rebound in 2021 and beyond.

Shares of Berkshire Hathaway were up 1% to 2% on Monday morning. The annual shareholder meeting still didn't bring thousands of people to the company's Omaha, Nebraska, headquarters due to the pandemic, but it did feature commentary from both Warren Buffett and Berkshire Vice Chair Charlie Munger, and there were some interesting comments from the insurance giant.

Source Fool.com