US-Iran Conflict Eases, Stocks and Oil Prices React

The US-Iran conflict has taken a backseat, allowing Wall Street to focus on economic updates. Stock markets closed mixed on Monday, with the S&P 500 rising less than 0.1% after two consecutive weekly losses.

Oil prices plummeted, with Brent crude dropping 6.3% to $85.87 per barrel for October delivery and US crude oil falling 7.5% to $82.61 per barrel for September delivery.

Markets in Europe and Asia closed higher, while bond yields fell, with the yield on the 10-year Treasury decreasing to 4.65% from 4.69% late Friday.