Nasdaq tops 4,000 for 1st time in 13 years

NEW YORK (CNNMoney)

The tech-heavy Nasdaq is still well below its peak of above 5,000, which was set in March 2000. But investors continued to buy stocks Monday thanks to enthusiasm about a landmark deal reached between Iran and the United States, the United Kingdom, France, Russia, China and Germany over the weekend.

As part of the agreement. world powers will relax economic sanctions against Iran in exchange for a promise that the country scales back its nuclear program. Oil prices sank on the expectation of more oil exports from Iran following the nuclear deal.

World markets also climbed on the news. European markets were higher in afternoon trading, with Germany's benchmark Dax index leading the way. Most Asian markets ended higher, with Japan's Nikkei jumping 1.5% as the yen weakened against the dollar.

Related: Fear & Greed Index remains in Greed territory

Besides the Iran deal, there wasn't much other news moving markets. Trading volume is expected to be low during this holiday-shortened week and there are few economic and earnings reports on tap.

U.S. markets will be closed Thursday for Thanksgiving and will shut at 1 p.m. ET on Friday.

In company news, Wal-Mart (WMT, Fortune 500) announced that current CEO of Wal-mart International Doug McMillon will replace CEO Mike Duke, who plans to retire early next year.

Apple (AAPL, Fortune 500) bought the Israeli company PrimeSense. Apple's stock was up about 1% in early trading.

First Published: November 25, 2013: 9:49 AM ET

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