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US stocks trade mixed as Iran tensions and AI optimism offset
Brent crude rose 0.4% to $88.87 a barrel, while the 10-year Treasury yield edged up to 4.70%.
US stocks traded mixed on Monday as investors weighed the risk of renewed US-Iran tensions alongside optimism from artificial intelligence, according to LiveMint Markets citing Reuters. As of 10:30 a.m. Eastern Time, the S&P 500 slipped 0.1%, the Dow Jones Industrial Average was down 0.3%, and the Nasdaq Composite was virtually unchanged. At the opening bell, the Dow fell 69.3 points, or 0.13%, to 53,663.11, while the S&P 500 rose 4.9 points, or 0.06%, to 7,790.68, and the Nasdaq Composite rose 55.5 points, or 0.21%, to 26,784.652. Geopolitical concerns were tied to the possibility of escalation around the Strait of Hormuz if diplomacy fails, with Reuters citing a senior Iranian official. Oil prices moved higher on the same worry, with Brent crude up 0.4% to $88.87 a barrel as investors considered potential impacts on energy supplies and shipping. In the background, Treasury yields edged higher, with the benchmark 10-year note yield rising to 4.70% from 4.68% at Friday’s close. Investors were also looking toward a busy week of corporate earnings, including reports from Home Depot, Target and Walmart, with expectations that results and management commentary could shed light on the strength of US consumer spending, after retailers saw less-than-expected spending in the prior month.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|S&P 500 7,785.76 ▼0.2%