Wall Street Live: US stocks gain as oil prices ease amid Israel-Iran conflict | Stock Market News
US stock indices gained on Monday as oil prices eased amid ongoing conflict between Israel and Iran.
At 11:46 AM ET the Dow Jones Industrial Average rose 409.76 points, or 0.97%, to 42,607.55, the S&P 500 gained 66.23 points, or 1.11%, to 6,043.19, and the Nasdaq Composite gained 300.92 points, or 1.55%, to 19,707.75.
At 10:04 AM, the Dow Jones Industrial Average rose 439.65 points, or 1.04%, to 42,636.31, the S&P 500 gained 63.22 points, or 1.06%, to 6,040.19, and the Nasdaq Composite gained 261.80 points, or 1.35%, to 19,668.63.
At the opening bell, the Dow Jones Industrial Average rose 102.3 points, or 0.24%, to 42,300.13. The S&P 500 rose 27.0 points, or 0.45%, to 6,004, while the Nasdaq Composite rose 143.9 points, or 0.74%, to 19,550.749.
Investors fear that a wider war could constrict the flow of Iran’s oil to its customers as Israel and Iran continue to attack each other.
Market participants are also awaiting the US Federal Reserve’s interest rate decision due later this week.
In the bond market, the yield on the 10-year Treasury rose to 4.43% from 4.41% late on Friday. The 2-year Treasury yield was steady at 3.96%.
Crude oil
Oil prices fell on Mondayas traders are monitoring continued attacks between Iran and Israel.
West Texas Intermediate edged down 1.4% at $71.96 per barrel. Brent North Sea Crude lost 1.3% at $73.29 per barrel.
Bullion
Gold prices slipped on Monday as traders took profits.
Spot gold was down 1.1% to $3,396.09 an ounce by 10:10 AM EDT (1410 GMT). US gold futures were down 1.1% to $3,415.
Among other metals, spot silver was flat at $36.31 per ounce, platinum jumped 3.4% to $1,269.15, while palladium gained 2% to $1,048.36.
Gainers and Losers
Sage Therapeutics shares jumped 35.4% after Supernus Pharmaceuticals said it would buy the company in a deal worth $795 million.
US Steel stock rose 5.1% after Trump on Friday signed anexecutive order paving the wayfor an investment in the company by Japan’s Nippon Steel.
Shares of Lockheed Martin dropped 2.4%, and Northrop Grumman lost 1.9%.
