US-Iran Conflict Takes Backseat: Markets Drift Amid Oil Price Drop

Wall Street stocks are experiencing a slow day as investors wait for news on the US-Iran conflict. The S&P 500 index fell by 0.2%, following two consecutive weekly losses. Meanwhile, oil prices took a hit, dropping 6% after the pause in attacks and renewed efforts to restart negotiations.

The Dow Jones Industrial Average showed some resilience, rising 123 points or 0.2% as of 12:56 p.m. Eastern time. However, the Nasdaq composite was not as lucky, falling by 0.5%. The market's cautious mood is a result of the ongoing tensions between the US and Iran.

The recent escalation in conflict led to a surge in oil prices, but the pause in hostilities has given investors some breathing room. The impact on the markets will likely be short-lived, as attention remains focused on the negotiations to end the war.